Acts and Regulations

2017-23 - Payday Lending

Section 4
Disposition versions

Full text
Limit regarding percentage borrowed in relation to net pay or other net income
4For the purposes of section 37.36 of the Act, the maximum amount of credit that a payday lender may extend to a borrower is 30% of the net pay or other net income that will be received by the borrower during the term of the payday loan.
Limit regarding percentage borrowed in relation to net pay or other net income
4For the purposes of section 37.36 of the Act, the maximum amount of credit that a payday lender may extend to a borrower is 30% of the net pay or other net income that will be received by the borrower during the term of the payday loan.