32-5-311. Precomputed interest prohibited.
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/mt/title-32/chapter-5/part-3/32-5-311·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
32-5-311 . Precomputed interest prohibited. All consumer loans made or refinanced under this chapter must be made on simple interest, and the interest on consumer loans made or refinanced under this chapter may not be precomputed.