Delaware Code Title 19 Sec. 701 – Order on employer to pay employee’s loan carrying excessive interest …
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(a) No employer in this State shall knowingly pay any warrant or order due any person for borrowed money where more than the lawful rate of interest has been received or charged for the money borrowed.
Terms Used In Delaware Code Title 19 Sec. 701
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
(b) Any employer, whether an individual, member of a firm, agent or officer of a corporation, who shall knowingly violate this section shall be subject to a civil penalty of not less than $1,000 nor more than $5,000 for each violation. A civil penalty claim may be filed in any court of competent jurisdiction.
25 Del. Laws, c. 233, §§ ?1-3; Code 1915, § ?4129; Code 1935, § ?4617; 19 Del. C. 1953, § ?702; 57 Del. Laws, c. 137; 67 Del. Laws, c. 260, § ?1; 69 Del. Laws, c. 294, § ?4;