A. A person commits usury by knowingly engaging in or directly or indirectly providing financing for the business of making loans at a higher rate of interest or consideration than authorized by law.
Terms Used In Arizona Laws 13-2208
- Knowingly: means , with respect to conduct or to a circumstance described by a statute defining an offense, that a person is aware or believes that the person's conduct is of that nature or that the circumstance exists. See Arizona Laws 13-105
- Misdemeanor: means an offense for which a sentence to a term of imprisonment other than to the custody of the state department of corrections is authorized by any law of this state. See Arizona Laws 13-105
- Person: means a human being and, as the context requires, an enterprise, a public or private corporation, an unincorporated association, a partnership, a firm, a society, a government, a governmental authority or an individual or entity capable of holding a legal or beneficial interest in property. See Arizona Laws 13-105
- Usury: Charging an illegally high interest rate on a loan. Source: OCC
B. Usury is a class 1 misdemeanor.