{"data":{"id":"us-mn/minn.-stat.-550.42","jurisdiction":"us-mn","citation":"Minn. Stat. § 550.42","heading":"WAIVER OF AGRICULTURAL DEBTOR'S RIGHTS.","body":"Subdivision 1. Waiver is void.\n(a) A waiver of statutory rights of a debtor in a contract, loan agreement, or security agreement as a condition for a loan of money for agricultural production is void unless the waiver is expressly authorized by law.\n(b) A waiver of mediation rights under chapter 583, the right to an offer under section 500.245, subdivision 1, or the debtor's statutory rights under chapter 580, 581, or 582 for a mortgage on agricultural property, is void unless the waiver is expressly authorized by law.\nSubd. 2. Penalty.\nA person, corporation, financial institution, or other legal entity is liable to a debtor for up to $2,500 plus attorney fees if the person or entity:\n(1) requires a waiver subject to subdivision 1 in a contract, loan agreement, or security agreement, and does not acknowledge that the waiver subject to subdivision 1 is void; or\n(2) attempts to enforce a waiver that is void under subdivision 1.","path":["CIVIL PROCEDURE","CHAPTER 550. EXECUTIONS, REDEMPTION, EXEMPTIONS"],"source_url":"https://www.revisor.mn.gov/statutes/cite/550.42","current_through":"2025 Minnesota Statutes","vintage":"","retrieved_at":"2026-09-02T22:10:49Z","sha256":"449202f3b9d177717a56bf7163a74d9e11c510ea70cb066190a3cee40b78e120","source_id":"us-mn","stale":false,"prev":"us-mn/minn.-stat.-550.41","next":"us-mn/minn.-stat.-551.01"},"notice":"GroundRules: Original legal text. Not legal advice."}