Notwithstanding any provision of law to the contrary and specifically Section 75-17-25, Mississippi Code of 1972, a service charge as defined in this chapter shall not be construed to be finance charge or interest when paid to a licensed consumer loan broker by a borrower, or by a lender on behalf of and at the direction of the borrower, if the payment is made pursuant to a written contract between the consumer loan broker and the borrower as required by this chapter.
Miss. Code Ann. § 81-19-31
Service charge not to be construed as finance charge or interest
Known as the Consumer Loan Broker Act
The act spans §§ 81-19-1 to 81-19-9 (19 sections).
Laws, 1992, ch. 485, § 16, eff from and after July 1, 1992.
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.