MN · SERVICE-AGMT · Updated July 2026 · Free
Minnesota Service Agreement PDF
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Minnesota at a glance: Usury Cap: 6% default, 8% written (Minn. Stat. § 334.01) · Governing Law: Minnesota Statutes Chapter 334
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Overview
Service Agreements in Minnesota
Minnesota service agreements must comply with Chapter 334 of the Minnesota Statutes. Late interest is capped at 6% default, 8% written (Minn. Stat. § 334.01).
Key Facts
Minnesota Service Agreement — Quick Reference
| Requirement | Minnesota Rule |
|---|---|
| Usury Cap | 6% default, 8% written (Minn. Stat. § 334.01) |
| Governing Law | Minnesota Statutes Chapter 334 |
Legal Requirements
Minnesota Legal Requirements
- Interest rates on late invoices must comply with statutory limits.
Governing Laws
Minnesota Governing Laws
Read the full text of these laws at Cornell Law School's Minnesota legal resources or your state legislature's official website.
Questions & Answers
Minnesota Service Agreement — Frequently Asked Questions
Are commercial contracts exempt from Minnesota's 8% cap?
Yes, loans or business extensions of credit over $100,000 are exempt.