§ 37-3-515. Loan renewal limitations.
51 words·~1 min read·
/sc/title-37-consumer-protection-code/chapter-3/loans/37-3-515·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 37-3-515. Loan renewal limitations.
A licensed lender may not renew a loan of one thousand dollars or less more than one time during any fifteen-month period where the dollars actually given to the customer is less than ten percent of the net outstanding loan balance at the time of renewal.