Haw. Rev. Stat. § 478-6

Current through Act 7 of the 2024 Legislative Session

Section 478-6 - Usury; penalty

Any person who directly or indirectly receives any interest or finance charge at a rate greater than that permitted by law or who, by any method or device whatsoever, receives or arranges for the receipt of interest or finance charge at a greater rate than that permitted by law on any credit transaction shall be guilty of usury and shall be fined not more than $250, unless a greater amount is allowed by law, or imprisoned not more than one year, or both.

HRS § 478-6

Amended by L 2021, c 56,§ 5, eff. 7/1/2021.

L 1905, c 38, §1; RL 1925, §3589; am L 1933, c 72, §1; RL 1935, §7055; am L 1937, c 222, §1; RL 1945, §8736; RL 1955, § 191-6; HRS § 478-6; gen ch 1985; am L 1986, c 137, pt of §1

Law Journals and Reviews

The Corporate Usury Exemption Statute in Hawaii: An Invitation to Litigation. 9 HBJ 5.

Administering Justice or Just Administration: The Hawaii Supreme Court and the Intermediate Court of Appeals. 14 UH L. Rev. 271.

This section considered with §§ 1-6 and 478-4 in determining whether usurious contract void as to interest.49 Haw. 160, 185,413 P.2d 221, reh'g den.49 Haw. 255,413 P.2d 221. Elements of usury.62 Haw. 583,618 P.2d 276. Attorney has a duty when drawing a promissory note to see that it is not usurious and the attorney can be held liable for damages if the attorney does not. 1 H. App. 331, 618 P.2d 1157. Cited:36 Haw. 107, 109;37 Haw. 295, 298.