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The DC Code: § 28-3303 Usury defined.

Index28 Commercial Instruments and Transactions. (Refs & Annos)

If a person or corporation contracts in the District,

This section does not affect sections 26-901 to 26-912.

1
verbally, to pay a greater rate of interest than 6% per annum, or
2
in writing, to pay a greater rate than is permitted under section 28- 3301, 28-3308, under Chapter 36 of this subtitle, or under § 26-301 et seq., the creditor shall forfeit the whole of the interest so contracted to be received.

Historical and Statutory

Prior Codifications 1981 Ed., § 28-3303. 1973 Ed., § 28-3303. Legislative History of Laws Law 12-111, the "Check Cashers Act of 1998," was introduced in Council and assigned Bill No. 12-338, which was referred to the Committee on Economic Development. The Bill was adopted on first and second readings on January 6, 1998, and February 3, 1998, respectively. Signed by the Mayor on February 24, 1998, it was assigned Act No. 12-300 and transmitted to both Houses of Congress for its review. Law 12-111 became effective on May 12, 1998. References in Text Sections 26-901 to 26-912, referred to in the last paragraph of this section, refer to the Act of Feb. 4, 1913, as amended, and as translated to the 2001 edition. D.C. Law 18-378 amended and enacted into law Title 29. DC CODE § 28-3303 Current through December 11, 2012

Credits

(Aug. 30, 1964, 78 Stat. 675, Pub.L. 88-509, § 1; Dec. 17, 1971, 85 Stat. 665, Pub.L. 92-200, § 2; May 12, 1998, D.C. Law 12-111, § 25(a), 45 DCR 1782.)