Investment Co. Institute v. Hatch

OPINION

CRIPPEN, Judge.

Appellant contends that the statutory registration fee scheme embodied in Minn. Stat. § 80A.28, subd. 1(b) (1990) violates both the due process and the equal protection clauses of the United States Constitution. We affirm the trial court’s summary judgment that the statutory language and legislative history sufficiently support the use of Minn.Stat. § 80A.28, subd. 1(b) to raise revenues.

FACTS

Subdivision 1(b) of section 80A.28 provides for the collection of fees from the registration of redeemable securities. 1 The statute provides for a fee calculated as a percentage of…