If an open end credit plan, agreement, or arrangement between the buyer and seller so provides, a seller or holder may collect a delinquency and collection charge on each installment in arrears for a period of not less than ten days in an amount not in excess of any such charge which may be imposed on residents of this state by any institution defined in subsection (c)(2)(F) of section 101(a) of the Competitive Equality Amendments of 1987 and the Bank Holding Company Act of 1956, United States Code, title 12, section 1841(c)(2)(F), by any national banking association under section 85 of the National Bank Act of 1864, United States Code, title 12, section 85, or by any state chartered insured depository institution under section 521 of the Depository Institutions Deregulation and Monetary Control Act of 1980, United States Code, title 12, section 1813d(a).
1995 c 202 art 3 s 21
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.