§ 4806.1. Definitions
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 18 P.S. Crimes and Offenses
18 P.S. § 4806.1
§ 4806.1. Definitions
As used in sections 806.2 through 806.9 of this act:1
(c) “Debtor” means any person who receives an extension of credit, or any person who guarantees the repayment of an extension of credit, or in any manner undertakes to indemnify the creditor against loss resulting from the failure of any person who receives an extension of credit to repay the same. Nothing in sections 806.2 through 806.9 of this act shall be construed as authorizing the conviction or punishment of a debtor because he receives, guarantees, repays or agrees to repay any extension of credit or indemnifies the creditor,
(h) “Criminal usury” is charging, taking or receiving any money, things in action or other property as interest on the loan or forbearance of any money, things in action or other property, at a rate exceeding thirty-six per cent per annum or the equivalent rate for a longer or shorter period, when not otherwise authorized by law.
Credits
1939, June 24, P.L. 872, § 806.1, added 1972, Dec. 29, P.L. 1671, No. 358, § 1, imd. effective.
Footnotes
18 P.S. §§ 4806.1 to 4806.9.
18 P.S. § 4806.1, PA ST 18 P.S. § 4806.1
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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