License Required for Certain Loans

4 CMC § 60121 — under Other Finance Companies.

4 CMC § 60121

TITLE 4: ECONOMIC RESOURCES

DIVISION 6: BANKING AND FINANCIAL INSTITUTIONS

§ 60121. License Required for Certain Loans. No person, without first obtaining a license under this chapter, shall charge or receive, directly or indirectly, on or in connection with any loan, any interest, discount or consideration, which in the aggregate is greater than the interest, discount or consideration that the lender would be permitted to charge for a loan of money if the lender were not a licensee. Source: PL 12-36, § 1(6953).