Bill > HF2236

This bill removes obsolete language from Minnesota Statutes related to retail installment contracts, specifically in section 53C.08, subdivision 1. The bill eliminates historical provisions about contract documentation from before August 1, 1996, which are no longer relevant. The remaining statutory language continues to outline key requirements for retail installment contracts, such as mandating that contracts must be in writing, signed by both the retail buyer and seller, and a copy must be provided to the buyer within seven days of vehicle delivery. The bill preserves important consumer protections, including provisions about delinquency charges (which are limited to 5% of each installment or $5, whichever is greater), attorney's fees (not exceeding 15% of the amount due), and the buyer's right to receive a written statement of payments upon request. The primary purpose of this bill appears to be cleaning up outdated statutory language while maintaining the core legal framework for retail installment contracts in Minnesota.

Business and Industry

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF2236&ssn=0&y=2025