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Code · Louisiana · Title 23 — Labor and Worker's Compensation

RS 23:691

101 words·~1 min read·/la/title-23/23-654

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RS 23:691
CHAPTER 7. LOANS
PART I. LOANS BY EMPLOYERS
§691. Maximum interest rate; penalty for violations
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 R.S. 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.
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