76-6-520. Criminal usury.
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Effective 5/3/2023
76-6-520. Criminal usury.
(1)Terms defined in Section 76-1-101.5 apply to this section.
(2)An actor commits criminal usury if the actor knowingly engages in, or directly or indirectly provides financing for, the business of making loans at a higher rate of interest or consideration therefor than is authorized by law.
(3)A violation of Subsection
(2)is a third degree felony.
(4)This section may not be construed to impose criminal or civil liability on any law enforcement officer acting within the scope of a criminal investigation.
(5)The forfeiture of property under this section, including any seizure and disposition of the property and any related judicial or administrative proceeding, shall be conducted in accordance with Title 77, Chapter 11a, Seizure of Property and Contraband , through Chapter 11c, Retention of Evidence .
Amended by Chapter 111 , 2023 General Session