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Subject to the provisions of chapter 80A, no law in this state prescribing or limiting interest
rates upon loans applies to interest charged by a broker or dealer registered under the Securities
Exchange Act of 1934, as amended, for carrying a debit balance including a debit balance arising
out of a nonpurpose loan, in an account for a customer if such debit balance is payable on demand
and secured by securities or bonds.
History: 1974 c 26 s 1; 1975 c 27 s 1

Official Publication of the State of Minnesota
Revisor of Statutes