2006 Minnesota Statutes

583.284 RETENTION OF PURCHASE MONEY SECURITY INTEREST.
If a creditor has a purchase money security interest under section 336.9-103, and renegotiates
the debt under the Farmer-Lender Mediation Act to reduce the principal balance or the interest
rate or to extend the repayment period, the creditor retains the purchase money security interest
for the renegotiated debt.
History: 1986 c 398 art 1 s 18; 1987 c 292 s 32,37; 1989 c 350 art 16 s 8; 1990 c 525 s 1;
1991 c 208 s 2; 1Sp1993 c 2 art 6 s 2; 1995 c 212 art 2 s 11; 1997 c 183 art 3 s 29; 1998 c 395 s
7; 1998 c 402 s 6; 1999 c 214 art 2 s 19; 2001 c 195 art 1 s 23; art 2 s 38; 1Sp2001 c 1 art 2 s
25; 1Sp2001 c 2 s 150; 2005 c 107 art 2 s 55

NOTE: This section expires June 30, 2009. Section 583.215, as added by Laws 2005,
chapter 107, article 2, section 55.