Minnesota Statutes
Chapters 46 - 59 — Banking
Chapter 56 — Regulated Loans

Section 56.0001 — Citation. - Sections 56.001 to 56.26 may be cited as the "Minnesota...

Section 56.001 — Definitions. - Subdivision 1. Terms. When used in this chapter, the terms...

Section 56.002 — Application. - This chapter does not apply to a person doing business...

Section 56.01 — Necessity Of License. - (a) Except as authorized by this chapter and without first...

Section 56.02 — Application Fee. - (a) Application for license shall be in writing, under oath,...

Section 56.04 — Investigation; Issuance Of License; Denial; Refunds. - Upon the filing of the application and payment of these...

Section 56.05 — License; To Be Posted. - The license shall state the address at which the business...

Section 56.07 — Control Over Location. - Subdivision 1. General. Not more than one place of business...

Section 56.08 — Annual License Fee. - Every licensee shall, on or before the 20th day of...

Section 56.09 — Suspension Or Revocation Of License. - The commissioner shall, upon ten days' notice to the licensee...

Section 56.10 — General Oversight And Administration. - Subdivision 1. Examinations. For the purpose of discovering violations of...

Section 56.11 — Books Of Account; Annual Report. - The licensee shall keep and use in the licensee's business...

Section 56.12 — Advertising; Taking Of Security; Place Of Business. - No licensee shall advertise, print, display, publish, distribute, or broadcast,...

Section 56.125 — Open-end Loans. - Subdivision 1. Authorization. A licensee may make open-end loans under...

Section 56.131 — Maximum Rates And Charges. - Subdivision 1. Interest rates and charges. (a) On any loan...

Section 56.132 — Installment Sales Contracts. - A person may enter into a credit sale or service...

Section 56.14 — Duties Of Licensee. - Every licensee shall: (1) deliver to the borrower (or if...

Section 56.15 — Charges. - Subdivision 1. Limitation. No licensee shall directly or indirectly, charge,...

Section 56.155 — Insurance In Connection With Loan. - Subdivision 1. Authorization. Notwithstanding section 47.59 to the contrary, no...

Section 56.16 — Overages Deemed Interest. - The payment of money, credit, goods, or things in action,...

Section 56.17 — Limitation; Assignment Of Wages; Security Agreement. - No assignment of, or order for payment of, any salary,...

Section 56.18 — Unlicensed Persons Not To Make Loans. - No person, except as authorized in this chapter, shall, directly...

Section 56.19 — Violation. - Subdivision 1. Criminal penalty. Any person or the several members,...

Section 56.21 — Rules Of Commissioner. - The commissioner of commerce is hereby authorized and empowered to...

Section 56.22 — Modification Of Law Not To Affect Contracts. - This chapter, or any part thereof, may be modified, amended,...

Section 56.23 — Appeals. - Any applicant or licensee may appeal from any decision or...

Section 56.24 — Existing Contracts Valid. - Nothing herein contained shall be so construed as to impair...

Section 56.25 — Licensee To Be Responsible. - The licensee hereunder shall, at all times, be beholden and...

Section 56.26 — Continuation Of Licensing. - All persons licensed under the provisions of this chapter on...