Notwithstanding sections 334.01 and 334.011, a cooperative organized for agricultural purposes under chapter 308A, or a similar statute of another state and registered to conduct business in this state, and other persons or entities engaged in an agricultural retail or farm supply business, may impose, charge, and collect a finance charge on goods, products, and services, including sales and open- and closed-end credit transactions that do not exceed a monthly rate of 1-1/2 percent or an annual rate of 18 percent, and the delinquency and collection charge authorized under section 334.171, provided, however, for a cooperative, the finance, delinquency, and collection charge is the same for member and nonmember patrons.
1996 c 414 art 2 s 14
Structure Minnesota Statutes
Chapters 324 - 341 — Trade Regulations, Consumer Protection
Chapter 334 — Money, Rates Of Interest
Section 334.01 — Rate Of Interest.
Section 334.011 — Rates Of Interest; Business And Agricultural Loans.
Section 334.012 — Rates Of Interest; Loans Secured By Savings Accounts.
Section 334.02 — Usurious Interest; Recovery.
Section 334.022 — Credit To Organizations.
Section 334.03 — Usurious Contracts Invalid; Exceptions.
Section 334.04 — Offenders To Answer On Oath.
Section 334.05 — Usurious Contracts; Cancellation.
Section 334.06 — Agreements To Share Profits; Banks For Farm Cooperatives.
Section 334.061 — Agricultural Credit Corporations; Interest Rate Limitations.
Section 334.062 — Agricultural Cooperatives And Farm Supply.
Section 334.10 — Damages On International Bills.
Section 334.11 — Rate Of Damage On Interstate Bills.
Section 334.16 — Finance Charges For Open End Credit Sales.
Section 334.17 — Prior Open End Credit Sales And Agreements Confirmed.
Section 334.171 — Open End Credit Plans; Delinquencies And Collection Charges.
Section 334.18 — Penalties For Violations.
Section 334.19 — Interest Rates On Margin Accounts.
Section 334.20 — Usurious Interest; Determination At Time Of Contract.