(16) Generate financing so you’re able to a consumer filled with a request ability that has been maybe not demonstrably disclosed on created arrangement pursuant in order to point -step three or collect or request repayment of every outstanding harmony otherwise delinquent attract otherwise costs except just like the considering inside section -3 ;
(17) Fail to follow one applicable state otherwise federal legislation appropriate towards the affairs influenced by this section; otherwise
(b) Including any other charges provided for around this chapter, one installment mortgage transaction in the admission regarding subsection (a) might be emptiness and you can unenforceable.”
“(d) The rate limitations contained in subsections (a) and (b) [of this point] and section 478-11.5 shall not apply to any [credit]:
Borrowing
(1) transaction authorized by, and entered into in accordance with the provisions of, articles 9 and 10 of chapter 412 or chapter 476[.]; or
” §478-5 Usury not recoverable. But if in any action on the contract proof is made that a greater rate of interest than that permitted by law has been directly or indirectly contracted for, the creditor shall only recover the principal and the debtor shall recover costs. This section shall not be held to apply[, to help you finance] to:
(1) Fund made by financial services loan companies and credit unions at the rates authorized under and pursuant to articles 9 and 10 of chapter 412[.]; otherwise
” §478-6 Usury; penalty. Any person who directly or indirectly receives any interest or finance charge at a rate greater than that permitted by law or who, by any method or device whatsoever, receives or arranges for the receipt of interest or finance charge at a greater rate than that permitted by law on any credit transaction shall be guilty of usury and shall be fined not more than $250, unless an increased count was enjoy legally, or imprisoned not more than one year, or both.”