Notwithstanding any provision of law to the contrary and specifically Section 75-17-25, Mississippi Code of 1972, a service charge as defined in this chapter shall not be construed to be finance charge or interest when paid to a licensed consumer loan broker by a borrower, or by a lender on behalf of and at the direction of the borrower, if the payment is made pursuant to a written contract between the consumer loan broker and the borrower as required by this chapter.
Structure Mississippi Code
Title 81 - Banks and Financial Institutions
Chapter 19 - Consumer Loan Broker Act
§ 81-19-5. License requirement; penalty for violation
§ 81-19-7. Exclusions from chapter coverage
§ 81-19-9. License application; fee; surety requirement
§ 81-19-15. Renewal of license; penalty for failure to pay fee
§ 81-19-19. Deposit of funds collected into Consumer Finance Fund
§ 81-19-21. Contracts to be written; enumeration of charges
§ 81-19-31. Service charge not to be construed as finance charge or interest
§ 81-19-33. Effect of failure to comply with chapter on underlying transaction
§ 81-19-35. Right to hearing upon denial or revocation of license; notice; appeal; review