MN SF327

Prohibits any person from entering into agreements that assign or sell military pay or benefits of service members, spouses, or designated beneficiaries in violation of federal law (37 U.S.C. § 701 and 38 U.S.C. § 5301).

Voids any prohibited agreements, including purchase and sale agreements or other schemes, and protects military beneficiaries from being required to repay consideration received under such agreements.

Allows injured military beneficiaries to sue for damages, reasonable attorney fees and costs, and equitable relief for violations of the prohibition.

Authorizes the Minnesota Attorney General to enforce the statute under applicable law.

Becomes effective August 1, 2018, for contracts entered into on or after that date.