Louisiana Revised Statutes 23:691 – Maximum interest rate; penalty for violations
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Terms Used In Louisiana Revised Statutes 23:691
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
No person shall, whether for his own account or for that of any other person, advance money to any one of his employees at a greater rate of interest than eight percent per annum. This provision shall not apply to financial institutions that are subject to La. Rev. Stat. 6:289. Whoever violates the provisions of this Section shall be fined not less than twenty-five dollars nor more than one hundred dollars or imprisoned for not more than three months, or both.
Acts 2001, No. 814, §1.