§ 701. Order on employer to pay employee’s loan carrying excessive interest rate; penalty for payment.
90 words·~1 min read·
/de/title-19/chapter-7-employment-practices/subchapter-i-general-provisions/701·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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.
(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.