2016 Mississippi Code
Title 75 - Regulation of Trade, Commerce and Investments
Chapter 67 - Loans
Article 13 - Mississippi Credit Availability Act
§ 75-67-627. Engaging in business without license; penalty [Repealed effective July 1, 2018]

MS Code § 75-67-627 (2016) What's This?

(1) Any person who engages in the business of offering credit availability transactions without first securing a license prescribed by this article shall be guilty of a misdemeanor and upon conviction thereof, shall be punishable by a fine not to exceed One Thousand Dollars ($ 1,000.00) or by confinement in the county jail for not more than one (1) year, or both.

(2) Any person who engages in the business of offering credit availability transactions without first securing a license prescribed by this article shall be liable for the full amount of the license fee, plus a penalty in an amount not to exceed Twenty-five Dollars ($ 25.00) for each day that the person engaged in the business without a license. All licensing fees and penalties shall be paid into the Consumer Finance Fund of the Department of Banking and Consumer Finance.

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