It is the intent of the legislature to regulate deferred presentment transactions and small loans. These loans meet a legitimate credit need for many consumers; however, in order to protect consumers from excessive charges, it is the intent of the legislature to put certain restrictions on lenders who make these loans.
La. R.S. 9:3578.2
Legislative intent
Known as the Louisiana Consumer Credit Law
The act spans §§ 9–9 (177 sections).
Acts 1999, No. 1315, §§1, 2, eff
Official source: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.