§14A-2-402. Use of multiple agreements.
102 words·~1 min read·
/ok/title-14a-consumer-credit-code/14a-2-402A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A seller may not use multiple agreements with intent to obtain a higher credit service charge than would otherwise be permitted by this article or to avoid disclosure of an annual percentage rate pursuant to the provisions on disclosure and advertising (Part 3). The excess amount of credit service charge provided for in agreements in violation of this section is an excess charge for the purposes of the provisions on the effect of violations on rights of
parties (Section 5-202) and the provisions on civil actions by Administrator (Section 6-113). Added by Laws 1969, c. 352, § 2-402, eff. July 1, 1969.