2002 Minnesota Statutes

     48.155 Allowable additional charges. 

    No charge other than those provided for in sections 48.153 
 and 48.154 shall be made directly or indirectly for any such 
 installment loan except that there may be charged to the 
 borrower or included in the amount financed: 

    (a) Any lawful fees paid or to be paid by the lender to any 
 public officer for filing, recording, or releasing in any public 
 office any instrument securing the loan; 

    (b) Any lawful premium or charge for insurance protecting 
 the lender against the risk of loss from not filing or recording 
 a security agreement or financing statement and in lieu of 
 filing thereof.  Such premium or charge shall not exceed the 
 actual premium or charge made by the insurance company to the 
 lender and in no event in excess of the costs if the document 
 were actually filed, recorded, or released in any public office; 

    (c) The premium on any life, property or other insurance 
 taken as security for the loan; provided, that the borrower has 
 acknowledged by signature that the borrower has been notified in 
 writing that the borrower may, at the borrower's own cost, 
 procure and deposit with the lender such insurance if written by 
 a responsible company.  Such premium may be included as part of 
 the loan. 

    HIST: 1945 c 544 s 3; 1963 c 153 s 3; 1971 c 33 s 1; 1976 c 
 196 s 4; 1986 c 444