2006 Minnesota Statutes
- Search Minnesota Statutes
- About Minnesota Statutes
- 2006 Statutes New, Amended or Repealed
- 2006 Table of Chapters
- 2006 Statutes Topics (Index)
Chapter 47
Section 47.204
Recent History
- 2002 Subd. 1 Amended 2002 c 342 s 2
- 1999 Subd. 1 Amended 1999 c 151 s 10
This is an historical version of this statute chapter. Also view the most recent published version.
47.204 TEMPORARY REMOVAL OF MORTGAGE USURY LIMITS.
Subdivision 1. Limits on interest and other charges. Notwithstanding any law to the
contrary, except as stated in section 58.137, no limitation on the rate or amount of interest, points,
finance charges, fees, or other charges applies to a loan, mortgage, credit sale, or advance as
described in United States Code, title 12, section 1735f-7a, as amended, which is made in this
state after June 2, 1981.
Subd. 2. Enforceable throughout term. If the rate or amount of interest, discount points,
finance charges, or other charges are permitted by this section at the time the loan, mortgage,
credit sale or advance is made, the rate or amount of interest, discount points, finance charges
or other charges are permitted throughout the original term of the agreement and any extension
agreed upon by the borrower and the lender or their respective successors in interest.
History: 1981 c 351 s 12; 1984 c 576 s 4; 1987 c 349 art 1 s 7; 1999 c 151 s 10; 2002
c 342 s 2
Subdivision 1. Limits on interest and other charges. Notwithstanding any law to the
contrary, except as stated in section 58.137, no limitation on the rate or amount of interest, points,
finance charges, fees, or other charges applies to a loan, mortgage, credit sale, or advance as
described in United States Code, title 12, section 1735f-7a, as amended, which is made in this
state after June 2, 1981.
Subd. 2. Enforceable throughout term. If the rate or amount of interest, discount points,
finance charges, or other charges are permitted by this section at the time the loan, mortgage,
credit sale or advance is made, the rate or amount of interest, discount points, finance charges
or other charges are permitted throughout the original term of the agreement and any extension
agreed upon by the borrower and the lender or their respective successors in interest.
History: 1981 c 351 s 12; 1984 c 576 s 4; 1987 c 349 art 1 s 7; 1999 c 151 s 10; 2002
c 342 s 2
Official Publication of the State of Minnesota
Revisor of Statutes