Minnesota § 325E.63 CREDIT ISSUED TO MINORS

Minnesota Statutes

§ 325E.63 — CREDIT ISSUED TO MINORS

Minnesota § 325E.63

PartTRADE REGULATIONS, CONSUMER PROTECTION

Ch. 325ETRADE PRACTICES

This text of Minnesota § 325E.63 (CREDIT ISSUED TO MINORS) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 325E.63 (2026).

Text

Subdivision 1.Definitions.

(a)For purposes of this section, the terms defined in this subdivision have the meanings given them.

(b)"Credit" means the right granted to a borrower to defer payment of a debt, to incur debt and defer its payment, or to purchase property or services and defer payment. Credit does not include an overdraft from a person's deposit account, whether through a check, ATM withdrawal, debit card, or otherwise, that is not pursuant to a written agreement to pay overdrafts with the right to defer payment of them.

(c)"Creditor" means a person or entity doing business in this state.

(d)"Guardian" means a guardian as defined under section524.5-102, subdivision 5.

(e)"Minor" means an individual under the age of 18 years.

(f)"Parent" means a person who has legal and ph

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Subdivision 1.Definitions.
(a) For purposes of this section, the terms defined in this subdivision have the meanings given them.
(b) "Credit" means the right granted to a borrower to defer payment of a debt, to incur debt and defer its payment, or to purchase property or services and defer payment. Credit does not include an overdraft from a person's deposit account, whether through a check, ATM withdrawal, debit card, or otherwise, that is not pursuant to a written agreement to pay overdrafts with the right to defer payment of them.
(c) "Creditor" means a person or entity doing business in this state.
(d) "Guardian" means a guardian as defined under section524.5-102, subdivision 5.
(e) "Minor" means an individual under the age of 18 years.
(f) "Parent" means a person who has legal and physical custody of a child.

Subd. 2.Prohibition on offering credit to minors.
No creditor shall knowingly offer or provide credit to a minor except at the request of the parent or guardian of the minor, until the minor reaches the age of 18 years.