Washington Code 19.52.034 – Application of chapter 19.52 RCW to loan or forbearance made outside state
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Whenever a loan or forbearance is made outside Washington state to a person then residing in this state the usury laws found in chapter 19.52 RCW, as now or hereafter amended, shall be applicable in all courts of this state to the same extent such usury laws would be applicable if the loan or forbearance was made in this state.
NOTES:
Severability—Savings—1967 ex.s. c 23: See notes following RCW 19.52.005.
Terms Used In Washington Code 19.52.034
- Forbearance: A means of handling a delinquent loan. A
- person: may be construed to include the United States, this state, or any state or territory, or any public or private corporation or limited liability company, as well as an individual. See Washington Code 1.16.080
- Usury: Charging an illegally high interest rate on a loan. Source: OCC