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MN HF2236
Bill
Status
3/12/2025
Primary Sponsor
Tim O'Driscoll
Click for details
AI Summary
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Removes obsolete transitional language from Minnesota Statutes section 53C.08 regarding retail installment contracts for vehicle sales
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Deletes requirement that applied only to contracts executed before August 1, 1996, which mandated sellers provide signed copies to buyers within 120 days after that date
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Retains all substantive consumer protection requirements, including that contracts must be in writing, signed by both parties, and delivered to buyers within 7 days of vehicle delivery
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Maintains existing provisions prohibiting confession of judgment clauses and limiting delinquency charges to 5% or $5 (whichever is greater) for installments 10+ days overdue
Legislative Description
Commerce; obsolete language removed.
Last Action
Introduction and first reading, referred to Commerce Finance and Policy
3/12/2025