No lender or other person shall use multiple notes, accounts, contracts or agreements with intent to obtain a higher finance charge than permitted by law. If a finance charge be stipulated for or received in any case in violation of this section, all interest and finance charges shall be forfeited.
Miss. Code Ann. § 75-17-29
Prohibition against use of multiple agreements to obtain excessive finance charge
Applied in 1 court decision — leading case Smith v. Tower Loan of Mississippi, Inc. (2003)
Most recently applied in Smith v. Tower Loan of Mississippi, Inc. (March 2003)
Laws, 1986, ch. 510, § 7, eff from and after July 1, 1986.
Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.