70C-7-105 - Extortionate extensions of credit.
70C-7-105. Extortionate extensions of credit.
If it is the understanding of the creditor and the debtor at the time an extension of credit ismade that delay in making repayment or failure to make repayment could result in the use ofviolence or other criminal means to cause harm to the person, reputation, or property of anyperson, the repayment of the extension of credit is unenforceable through any judicial proceedingsagainst the debtor.
Enacted by Chapter 159, 1985 General Session