Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1913-08-22

N' CT cHA Ai' 1 is D' LAWS 1 Of 1918.
AN ACT-To amend section 1851 of the
statutes, relating to rate OF interest ana
charges for loans.
The people of the State of Wisconsin,
represented in Senate and Assembly, do
enact as follows:
Section 1. Section 1851 of the statutes
is amended to read: Section 1851. l..
Every person who, for any such loan or
forbearance, shall have paid or delivered
any greater sum or value than Is above
allowed to be received, may, by himself
or his personal representative, recover IN
an action against the person who shall
have taken or received the same, or his
personal representatives, treble the
amount of the money so paid or value de-
livered above the rate aforesaid if such
action shall be brought within one year
after such payment or delivery.
2. And any person who, as principal or
as agent for another, shall ask, demand,
receive, take, accept or charge more than
ten per centum per annum upon the sum
of money actually loaned for the forbear-
ance, use or loan thereof, shall be guilty
of a misdemeanor and upon conviction
thereof shall be punished by a fine of not
less than twenty-five dollars nor more
than three hundred dollars, or by i'm
prisonment not more than six months, or
by both such fine and Imprisonment.
8. And when the repayment or the
money loaned shall be secured, or pur-
port to be secured, or claimed by the
payee of said loan to be secured, by
chattel mortgage, bill of sale, pledge, re-
ceipt or other evidence of debt upon
chattel goods or property, or by assign
ment of wages, or by power of attorney
to execute any such instrument on be-
half of the borrower, whether any such
the same, shall be valid or not or
whether any such instrument or power
shall be fully executed Or executed partly
in blank, any person who, as principal or
f@xu Ghon 0cIY n d nd
receive take, accept or charge in addi-
ton to the interest aforesaid, more than
an amount equal to . four per centum
per annum of the original sum actually
loaned for the time Of such loan dlsre-
garding part payments and the dates
thereof, but not to be computed Tor
period exceeding one year in any event,
In full for all examinations, views, fees,
apprasals commissions renewals and
charges of any kind or descriptions what
soever in the procuring, making and
transacting of the business connected
with such loan, shall be guilty of mis-.
shall be punished by fine of not less
than twenty-five dollars nor more than
three hundred dollars, or by imprison-
ment not more than six months, or by
both such fine and imprisonment
4. And it shall be prima facie proof
Of the commission of the offenses afore-
said by any person as principal, who is
charged with having committed such Of
Tense through another person as his
agent, that such other person has asked.
demanded, received, taken, accepted, or
charged interest or commissions, as the
case may be, in an amount exceeding the
rates aforesaid, and was authorized on
behalf Of such principal to loan. and did
in fact loan unto the borrower at the
time and place referred to in the indict-
ment information or complaint, the
money of such principal t4
Section g This act shall take effect
and be in force from and after its pas
sage and publication.
Approved April &c, 1913. Copy Law.