Minnesota HF2236 removes obsolete language from retail installment contract statutes.

Minnesota HF2236 amends the retail installment contract statutes by removing outdated language. The bill specifies that every retail installment contract must be in writing, signed by both the retail buyer and seller, and include all agreements of the parties. It also mandates that a copy of the signed contract be provided to the retail buyer within seven days of vehicle delivery. The bill further prohibits the validity of confession of judgment or power of attorney provisions in retail installment contracts.

Minnesota HF2236 removes obsolete language from retail installment contract statutes.

Minnesota HF2236 amends the retail installment contract statutes by removing outdated language. The bill specifies that every retail installment contract must be in writing, signed by both the retail buyer and seller, and include all agreements of the parties. It also mandates that a copy of the signed contract be provided to the retail buyer within seven days of vehicle delivery. The bill further prohibits the validity of confession of judgment or power of attorney provisions in retail installment contracts.