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2084
ARTICLE 58A.
ARTICLE 58A.1
LOANS—PETTY.
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1-3. License; fee; bond.
4-7. Expiration of license — not assign-
able; additional bond; revocation
of license; posting thereof.
8-9. Place of business — change thereof.
10. Investigation by bank commissioner.
11. Books and records.
12. Disposition of fees.
13. False or misleading statements; pen-
alty.
14. Amount of loan; interest; fees; when
loan void.
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15. Duties of licensee.
16. Actual amount of loan to be stated;
other requirements.
17. Assignment of wages.
18. Prohibition of charge of more than 6%
save as authorized herein ; pretended
purchases; services; penalties; loan
not enforceable.
19. To what loans this article not appli-
cable.
20. How article cited and construed.
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An. Code, sec. 1. 1918, ch. 88, sec. 1.
1. No person, co-partnership, or corporation shall engage in the busi-
ness of making loans of money, credit, goods, or things in action in the
amount, or to the value, of three hundred dollars ($300) or less, and charge,
contract for or receive a greater rate of interest than six (6) per centum
per annum therefor, without first having obtained a license from the
Bank Commissioner.
An. Code, sec. 2. 1918, ch. 88, sec. 2.
2. Application for such license shall be in writing and shall contain
the full name and address, both of the residence and place of business,
of the applicant, and if the applicant is a co-partnership, of every mem-
ber thereof, or if a corporation of each officer thereof, also the county and
municipality, with street and number, if any, where the business is to
be conducted...Every such applicant, at the time of making such applica-
tion, shall pay; to the Bank Commissioner the sum of fifty dollars ($50)
as an annuaPlicense fee and in full payment of all expenses of examina-
tions under, and administration of this Article; provided, that if the
license is issued for a period of less than twelve months the license fee
shall be prorated according to the number of months that said license
shall run.
An. Code, sec. 3. 1918, ch. 88, sec. 3.
3. The applicant shall also, at the same time, file with the Bank Com-
missioner a bond in which the applicant shall be the obligor, in the sum
1 As to interest and usury, see art. 49.
As to loans upon chattels, interest rate, etc., see art. 23, sec. 152.
As to building associations, see art. 23, sec. 161, et seq.
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