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Minnesota Legislature

Office of the Revisor of Statutes

540.03 ACTION BY ASSIGNEE; SETOFF SAVED; EXCEPTION.

If a thing in action be assigned, an action thereon by the assignee shall be without prejudice to any setoff or defense existing at the time or before notice of the assignment; but this section does not apply to negotiable paper, transferred in good faith and upon good consideration before due.

History:

(9166) RL s 4054