§ 6.1-330.55. (Repealed effective October 1, 2010) Contracts for more thanlegal rate of interest.
Except as otherwise permitted by law, no contract shall be made for thepayment of interest on a loan greater than twelve percent per year.
For statutes which permit payment of interest greater than twelve percent peryear, reference is hereby made to Article 6 (§ 6.1-330.60 et seq.), Article 7(§ 6.1-330.64), Article 8 (§ 6.1-330.65 et seq.), Article 9 (§ 6.1-330.69 etseq.), Article 10 (§ 6.1-330.75 et seq.) and Article 11 (§ 6.1-330.77 etseq.) of this chapter. Further reference is hereby made to Chapter 6 (§6.1-244 et seq.) of this title, relating to powers of consumer financecompanies; to Chapter 18 (§ 6.1-444 et seq.) of this title, relating topayday lenders; to § 38.2-1806, relating to interest chargeable by insuranceagents; to §§ 38.2-4700 through 38.2-4712, relating to interest chargeable bypremium finance companies; and to § 58.1-3018, relating to interest andorigination fees payable under third-party taxpayer agreements.
In the case of any loan upon which a person is not permitted to plead usury,interest and other charges may be imposed and collected as agreed by theparties.
Those provisions of this chapter providing that a loan or extension of creditmay be enforced as agreed in the contract of indebtedness, shall not beconstrued to preclude the charging or collecting of other loan fees andcharges permitted by law, in addition to the stated interest rate, and suchother loan fees and charges need not be included in the rate of intereststated in the contract of indebtedness.
§ 6.1-330.55. (Repealed effective October 1, 2010) Contracts for more thanlegal rate of interest.
Except as otherwise permitted by law, no contract shall be made for thepayment of interest on a loan greater than twelve percent per year.
For statutes which permit payment of interest greater than twelve percent peryear, reference is hereby made to Article 6 (§ 6.1-330.60 et seq.), Article 7(§ 6.1-330.64), Article 8 (§ 6.1-330.65 et seq.), Article 9 (§ 6.1-330.69 etseq.), Article 10 (§ 6.1-330.75 et seq.) and Article 11 (§ 6.1-330.77 etseq.) of this chapter. Further reference is hereby made to Chapter 6 (§6.1-244 et seq.) of this title, relating to powers of consumer financecompanies; to Chapter 18 (§ 6.1-444 et seq.) of this title, relating topayday lenders; to § 38.2-1806, relating to interest chargeable by insuranceagents; to §§ 38.2-4700 through 38.2-4712, relating to interest chargeable bypremium finance companies; and to § 58.1-3018, relating to interest andorigination fees payable under third-party taxpayer agreements.
In the case of any loan upon which a person is not permitted to plead usury,interest and other charges may be imposed and collected as agreed by theparties.
Those provisions of this chapter providing that a loan or extension of creditmay be enforced as agreed in the contract of indebtedness, shall not beconstrued to preclude the charging or collecting of other loan fees andcharges permitted by law, in addition to the stated interest rate, and suchother loan fees and charges need not be included in the rate of intereststated in the contract of indebtedness.
§ 6.1-330.55. (Repealed effective October 1, 2010) Contracts for more thanlegal rate of interest.
Except as otherwise permitted by law, no contract shall be made for thepayment of interest on a loan greater than twelve percent per year.
For statutes which permit payment of interest greater than twelve percent peryear, reference is hereby made to Article 6 (§ 6.1-330.60 et seq.), Article 7(§ 6.1-330.64), Article 8 (§ 6.1-330.65 et seq.), Article 9 (§ 6.1-330.69 etseq.), Article 10 (§ 6.1-330.75 et seq.) and Article 11 (§ 6.1-330.77 etseq.) of this chapter. Further reference is hereby made to Chapter 6 (§6.1-244 et seq.) of this title, relating to powers of consumer financecompanies; to Chapter 18 (§ 6.1-444 et seq.) of this title, relating topayday lenders; to § 38.2-1806, relating to interest chargeable by insuranceagents; to §§ 38.2-4700 through 38.2-4712, relating to interest chargeable bypremium finance companies; and to § 58.1-3018, relating to interest andorigination fees payable under third-party taxpayer agreements.
In the case of any loan upon which a person is not permitted to plead usury,interest and other charges may be imposed and collected as agreed by theparties.
Those provisions of this chapter providing that a loan or extension of creditmay be enforced as agreed in the contract of indebtedness, shall not beconstrued to preclude the charging or collecting of other loan fees andcharges permitted by law, in addition to the stated interest rate, and suchother loan fees and charges need not be included in the rate of intereststated in the contract of indebtedness.
