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Maximum interest rate; penalty for violations

La. R.S. 23:691
in effect
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23:691. 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.
Source: Louisiana State Legislature (legis.la.gov)URL: https://legis.la.gov/legis/Law.aspx?d=83965Fetched: 10/20/2026

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