Terms Used In Minnesota Statutes > Chapter 59A - Insurance Premium Finance Companies

• Adult: means an individual 18 years of age or older. See Minnesota Statutes 645.451
• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• children: includes children by birth or adoption;

  (9) "day" comprises the time from midnight to the next midnight;

  (10) "fiscal year" means the year by or for which accounts are reckoned;

  (11) "hereafter" means a reference to the time after the time when the law containing such word takes effect;

  (12) "heretofore" means a reference to the time previous to the time when the law containing such word takes effect;

  (13) "judicial sale" means a sale conducted by an officer or person authorized for the purpose by some competent tribunal;

  (14) "minor" means an individual under the age of 18 years;

  (15) "money" means lawful money of the United States;

  (16) "night time" means the time from sunset to sunrise;

  (17) "non compos mentis" refers to an individual of unsound mind;

  (18) "notary" means a notary public;

  (19) "now" in any provision of a law referring to other laws in force, or to persons in office, or to any facts or circumstances as existing, relates to the laws in force, or to the persons in office, or to the facts or circumstances existing, respectively, on the effective date of such provision;

  (20) "verified" when used in reference to writings, means supported by oath or affirmation. See Minnesota Statutes 645.45

• Continuance: Putting off of a hearing ot trial until a later time.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Dependent: A person dependent for support upon another.
• Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. ^{Source: Federal Reserve}
• Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
• Minor: means an individual under the age of 18. See Minnesota Statutes 645.451
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Violate: includes failure to comply with. See Minnesota Statutes 645.44