There is a newer version
of
this Statute
2021 Louisiana Laws
Revised Statutes
Title 23 - Labor and Worker's Compensation
§691. Maximum interest rate; penalty for violations
Universal Citation: LA Rev Stat § 23:691 (2021)
RS 691 - Maximum interest rate; penalty for violations
No person shall, whether for his own account or for that of any other person, advance money to any one of his employees at a greater rate of interest than eight percent per annum. This provision shall not apply to financial institutions that are subject to R.S. 6:289. Whoever violates the provisions of this Section shall be fined not less than twenty-five dollars nor more than one hundred dollars or imprisoned for not more than three months, or both.
Acts 2001, No. 814, §1.
Disclaimer: These codes may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.