A Law Businesses, Banks and Consumers Should Know: In 2007, Minnesota became the first state to enact legislation shifting, in certain circumstances, the costs of consumer data breaches from financial institutions to the persons or businesses that directly transacted with consumers whose data was exposed. Under the Plastic Card Security Act (“PCSA”), set out at …
Business Property Exemptions in Minnesota and Wisconsin
Exempt Business Property When individuals and businesses file bankruptcy or must satisfy legal debt obligations such as lien interests or judgments, the question arises as to how such obligations can be satisfied. Where debt obligations cannot simply be paid with cash, the law allows for the sale of the debtor’s property as a means of …
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