Terms Used In Louisiana Revised Statutes 37:1791

  • Month: means that period of time from one date in a calendar month to the corresponding date in the subsequent calendar month. See Louisiana Revised Statutes 37:1782
  • Pawnbroker: means a person who lends money on a deposit or pledge or who takes other things into possession as security for money advanced or who makes a public display at his place of business of the sign generally used by pawnbrokers to denote his business, namely, three gilt or yellow balls, or who publicly exhibits a sign that money is to be loaned on things on deposit. See Louisiana Revised Statutes 37:1782

Notwithstanding any other provisions of law to the contrary, a pawnbroker may charge a maximum rate of interest of ten percent per month on pawn transactions.

Acts 1993, No. 391, §1, eff. Sept. 1, 1993.