In lieu of complying with section 325G.42, subdivision 2 , a creditor, in connection with the distribution of a credit card application, may disclose the specific terms of section 325G.42 in compliance with Code of Federal Regulations, title 12, part 226.5. History: 1987 c 256 s 7

The customer must be notified of the amount of the annual fee, if any, and the date the fee is payable at least 30 days before the account is charged for the fee, and during that 30-day period the customer may cancel the open-end credit plan without penalty other than payment of any outstanding balance. History: 1987 c 256 s 8

This article shall be known and may be cited as the Uniform Commercial Code - Leases. History: 1989 c 232 art 1 s 2A-101

This article applies to any transaction, regardless of form, that creates a lease. History: 1989 c 232 art 1 s 2A-102

This legal document contains definitions and provisions related to lease contracts under the Uniform Commercial Code (UCC). It defines various terms such as ‘buyer in ordinary course of business,’ ‘commercial unit,’ ‘conforming goods,’ ‘consumer lease,’ ‘fault,’ ‘finance lease,’ ‘goods,’ ‘installment lease contract,’ ’lease,’ ’lease agreement,’ ’lease contract,’ ’leasehold interest,’ ’lessee,’ ’lessee in ordinary course of business,’ ’lessor,’ ’lessor’s residual interest,’ ’lien,’ ’lot,’ ‘merchant lessee,’ ‘present value,’ ‘purchase,’ ‘sublease,’ ‘supplier,’ ‘supply contract,’ and ’termination.

(1) A lease, although subject to this article, is also subject to any applicable: (a) statute of the United States; (b) certificate of title statute of this state: sections 86B.820 to 86B.920 and chapter 168A; (c) certificate of title statute of another jurisdiction (section 336.2A-105 ); or (d) consumer protection statute of this state. (2) In case of conflict between the provisions of this article, other than sections 336.2A-105 , 336.

Subject to the provisions of sections 336.2A-304 (3) and 336.2A-305 (3), with respect to goods covered by a certificate of title issued under a statute of this state or of another jurisdiction, compliance and the effect of compliance or noncompliance with a certificate of title statute are governed by the law (including the conflict of laws rules) of the jurisdiction issuing the certificate until the earlier of (a) surrender of the certificate or (b) four months after the goods are removed from that jurisdiction and after that until a new certificate of title is issued by another jurisdiction.

(1) If the law chosen by the parties to a consumer lease is that of a jurisdiction other than a jurisdiction in which the lessee signed the lease or in which the lessee resides at the time the lease agreement becomes enforceable or within 30 days after that or in which the goods are to be used, the choice is not enforceable. (2) If the judicial forum chosen by the parties to a consumer lease is a forum that would not otherwise have jurisdiction over the lessee, the choice is not enforceable.

Any claim or right arising out of an alleged default or breach of warranty may be discharged in whole or in part without consideration by a written waiver or renunciation signed and delivered by the aggrieved party. History: 1989 c 232 art 1 s 2A-107

This provision, found in the Minnesota Statutes under the Uniform Commercial Code, addresses the issue of unconscionability in lease contracts. If a court determines that a lease contract or any clause of a lease contract was unconscionable at the time it was made, the court has several options. It may refuse to enforce the lease contract, enforce the remainder of the lease contract without the unconscionable clause, or limit the application of the unconscionable clause to avoid any unconscionable result.