Minnesota Statutes 334.19 – Interest Rates On Margin Accounts
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Subject to the provisions of chapter 80A, no law in this state prescribing or limiting interest rates upon loans applies to interest charged by a broker or dealer registered under the Securities Exchange Act of 1934, as amended, for carrying a debit balance including a debit balance arising out of a nonpurpose loan, in an account for a customer if such debit balance is payable on demand and secured by securities or bonds.
Terms Used In Minnesota Statutes 334.19
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44