---
urn: urn:us-la:rs:23:691
citation: "R.S. 23:691"
status: active
breadcrumb: "Title 23 › Chapter 7 › Part I"
acts_citations:
  - { year: 2001, number: 814, section: 1, effective_date: null, role: enactment }
---

# Maximum interest rate; penalty for violations

No person shall, whether for his own account or for that of any other person, advance money to any one of his employees at a greater rate of interest than eight percent per annum. This provision shall not apply to financial institutions that are subject to R.S. 6:289. Whoever violates the provisions of this Section shall be fined not less than twenty-five dollars nor more than one hundred dollars or imprisoned for not more than three months, or both.