Minnesota Legislature
Office of the Revisor of Statutes
2006 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
56.15 CHARGES.
Subdivision 1. Limitation. No licensee shall directly or indirectly, charge, contract for, or
receive any interest, discount, charges, or consideration greater than the lender would be permitted
by law to charge if the lender were not a licensee hereunder upon the loan, use or forbearance of
money, goods, or things in action, or upon the loan, use or sale of credit, of the amount or value of
more than that regulated by this chapter. The foregoing prohibition shall also apply to any licensee
who permits any person, as borrower, or otherwise, to owe, directly or contingently, or both, to
the licensee at any time a sum of more than that regulated by this chapter for principal.
Subd. 2.[Repealed, 1981 c 258 s 23]
History: (7774-55) 1939 c 12 s 15; 1959 c 573 s 10; 1963 c 117 s 1; 1967 c 261 s 5; 1974 c
412 s 5; 1977 c 382 s 2; 1981 c 258 s 13; 1986 c 444
Subdivision 1. Limitation. No licensee shall directly or indirectly, charge, contract for, or
receive any interest, discount, charges, or consideration greater than the lender would be permitted
by law to charge if the lender were not a licensee hereunder upon the loan, use or forbearance of
money, goods, or things in action, or upon the loan, use or sale of credit, of the amount or value of
more than that regulated by this chapter. The foregoing prohibition shall also apply to any licensee
who permits any person, as borrower, or otherwise, to owe, directly or contingently, or both, to
the licensee at any time a sum of more than that regulated by this chapter for principal.
Subd. 2.[Repealed, 1981 c 258 s 23]
History: (7774-55) 1939 c 12 s 15; 1959 c 573 s 10; 1963 c 117 s 1; 1967 c 261 s 5; 1974 c
412 s 5; 1977 c 382 s 2; 1981 c 258 s 13; 1986 c 444
Official Publication of the State of Minnesota
Revisor of Statutes