31-1-817. Interest rates -- fees charged. (1) The maximum rate of interest for making and carrying any title loan authorized by this part may not exceed 36% per annum exclusive of the recording costs and service charges provided for in subsections (2) and (3).
(2) Title lenders may charge their actual costs of recording liens on borrowers' certificates of title.
(3) Title lenders may charge a service charge, as provided in 27-1-717, if there are insufficient funds to pay a check on the date of presentment. Title lenders may not collect damages under 27-1-717(3) based upon the presentment of an insufficient funds check.
History: En. Sec. 11, Ch. 455, L. 2001; amd. Sec. 4, Ch. 178, L. 2003; amd. Sec. 9, Ch. 497, L. 2007; amd. Sec. 7, I.M. No. 164, approved Nov. 2, 2010.