The Ocala banner. (Ocala, Marion County, Fla.) 1883-194?, 1909-07-30
Page Eight

hrm or corporation, or any agent. officer or other
representative of any person. association of per
sons, hrm OF corporation w1itully violating the
provisions of Section OF this Act shall forfeit the
entire interest so charged or contracted to be
charged or reserved, and only the actual principal
sum of such uSurious contract can be enforced in
any Court in this State. either at law in equity;
ard when said usurious interest is taken or re-
served, or has been paid, then and in that event
the person, association of persons. firm or corpora
ton who has taken OF reserved, or has been paid,
either directly indirectly, such usurious inter
est shall forfeit to the party from whom such
usuriouS interest has been reserved, taken ex-
acted in any way double the amount of interest so
reserved. taken or exacted; Provided. however,
That this shall not apply 10 a bona hde oadorsee
or transferee Of negotiable paper purchased before
maturity, unless the usuTious character should
appear upon its face or that the said endorsee or
transferee shall have had actual notice OF the
same before the purchase OF such paper, but IN
such event double the amount OF such usurous
interest may be recovered after payment, by
action against the party originally exactng the
same. in any Court of competent jurisdiction IN
vided in Section 4. of this Act.
Sec. 4. This Act shall not be so construed as to
prevent provision for the payment OF such attor-
ney's fees as the Court may determine IN cases
brought before the Court to be reasonable and
Just for legal services rendered in enforcing non
usurious contracts. either at law or in equity;
Provided That no attorneys fee shall be allowed
10 any court of a Justice of the Peace for a sum
exceeding FIVE dollars. Provided, further, That
this Act shall not be construed so as TO prohibit
mortgages from contracting for or collecting pre-
miums for insurance actually issued on the prop
erty mortgaged. with the usual loss payable or
mortgage clause attached thereto.
Sec s. Any person. association of per
sons fra or corporation. or the agent,
officer or other representative OF any per
son, association of persons, flrIn or corpora
ton lending money in this State who shall will
fully and knowingly charge or accept any sum
of money greater than the sum of money loaned.
and an additional sum Of money equal TO twenty
five per centum per annum unon the PRIV
cipal SUN loaned, by any contract, con
indirectly. by way of commissions. dis
count, exchange, interest, pretended sale of any
article, assignment of salary OF wages, inspection
fees OF other fees, otherwise. for forbeaTing
TO enforce the collection of such moneys other
wise skall forfeit the entire sum, both the prin-
cpal and interest, 70 the party charged such usu-
nous interest, and shall be deemed guilty OF mis-
demeanor and on conviction, be fined not more
than one hundred dollars, or be imprisoned IN the
county Jail not more than ninety days or both, in
the discretion of the Court.
Sec. 6. Every person, association of persons.
firm or corporation, the agent. officer. or other
representative of any person, association OF per
sons. brTn or corporation, lending money IN this
State upon security shall, whenever the borrower
of such money makes payment of any money,
either principal or interest, Immediately UPON such
payment being made, give to said borrower a re-
ceiot dated of the date of such payment, which
receipt shall state the amount paid and for what
such payment IS made. If such payment is for
interest on the sum borrowed. the receipt shall so
state II the sum so paid IS TO be applied to the
payment of the principal sum borrowed, the re-
CENT shall so state. All such receipts shall be
duly and properly signed by the person, associa-
ton Of persons, firm corporation. or the agent
officer or other representative OF the person. asso
citation of persons. firm or corporation to whom
such money is paid Whoever refuses, upon de-
mard. to give receipt complying with the re-
QuirementS of this Section shall forfeit the entire
interest upon said principal sum TO the borrower.
Sec. Z. That it shall be the duty of every mort
gage accepting mortgage on personal property
as security for the repayment of a loan of money
less than one hunded dollars to to be stated
in such mortgage, separately and distinctly. the
several amounts secured as principal, interest and
fees, and any mortgage Nllfully violating the
provisions of this Section shall forfeit all interest
and fees secured by such mortgage, and he en-
titled 20 recover only the principal sum.
Sec. 6. The provisions of Sections and Of
this Act shall not apply to chartered banks State
or National, or to trust companies.
Sec. 9. All laws and parts of laws In conflict
pealed.
Approved June II. 1899.