Sec. 53-391. Advances of money or property to be used in extortionate extension of credit.
109 words·~1 min read·
/ct/title-53/chapter-949a-extortionate-credit-transactions/53-391·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any person who wilfully advances money or property, whether as a gift, as a loan, as an investment, pursuant to a partnership or profit sharing agreement, or otherwise, to any person, with reasonable grounds to believe that it is the intention of such person to use the money or property so advanced directly or indirectly for the purpose of making extortionate extensions of credit, shall be guilty of a class B felony and fined not more than ten thousand dollars or an amount not exceeding twice the value of the money or property so advanced, whichever is greater, or shall be imprisoned not more than twenty years, or both.