Minn. Stat. § 59D.01
This is the official text of Minn. Stat. § 59D.01, part of Minnesota’s Stat — part of the compiled statutory law of Minnesota, published by the state as "Stat." Browse the sections below, each linked to its official government source.
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§ 59D.01 APPLICATION.
Official statutory text
(a) This chapter does not apply to:
(1) a policy of insurance offered in compliance with chapters 60A to 79A;
(2) a debt cancellation or debt suspension contract, including a guaranteed asset protection waiver, being offered by a banking institution or credit union in compliance with chapter 48 or 52; and
(3) a debt cancellation or debt suspension contract being offered in compliance with Code of Federal Regulations, title 12, parts 37, 721, or other federal law.
(b) Guaranteed asset protection waivers regulated under this chapter are not insurance and are not subject to chapters 60A to 79A. Persons selling, soliciting, or negotiating guaranteed asset protection waivers to borrowers in compliance with this chapter are exempt from chapter 60K.
(c) The commissioner of commerce has the full investigatory authority of chapter 45 to enforce the terms of this chapter.
(1) a policy of insurance offered in compliance with chapters 60A to 79A;
(2) a debt cancellation or debt suspension contract, including a guaranteed asset protection waiver, being offered by a banking institution or credit union in compliance with chapter 48 or 52; and
(3) a debt cancellation or debt suspension contract being offered in compliance with Code of Federal Regulations, title 12, parts 37, 721, or other federal law.
(b) Guaranteed asset protection waivers regulated under this chapter are not insurance and are not subject to chapters 60A to 79A. Persons selling, soliciting, or negotiating guaranteed asset protection waivers to borrowers in compliance with this chapter are exempt from chapter 60K.
(c) The commissioner of commerce has the full investigatory authority of chapter 45 to enforce the terms of this chapter.
Status: in_force · Read it on the official government site
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