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MN · SERVICE-AGMT · Updated July 2026 · Free

Minnesota Service Agreement

Review Status: PendingAuthor: Editorial TeamMethodology: Statutory Verification

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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

RequirementMinnesota Rule
Usury Cap6% default, 8% written (Minn. Stat. § 334.01)
Governing LawMinnesota Statutes Chapter 334
Legal Requirements

Minnesota Legal Requirements

  • Interest rates on late invoices must comply with statutory limits.
Governing Laws

Minnesota Governing Laws

Minn. Stat. § 334.01
Rate of Interest
Defines contract interest limits.

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.