The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1916-02-25

such answer shall be in writing, an
the acceptance or final rejection
thereof shall constitute and be a ful
and complete satisfaction of such il
debtedness. If no such tender q
heretofore provided has been mad
and suit is instituted in a court o
competent jurisdiction for the col
lection thereof, the payor, his agent
attorney or legal representative may
. at or before the time he is requirer
to plead, deposit in the court the eX
act sum of money received on sale
contract, less the exact amount o.
the entire interest taken, received
reserved or charged, and the cost in
CURED, and if the same be not ac
cepted, the court or jury shall make
a finding thereon and judgment
against said plaintiff shall be render
ed on said finding holding such con
tract and debt satisfied by reason of
such tender, if such is found to have
been made, and for cost, and on such
finding the said deposit shall be Ie-
turned to said defendant. Provided,
! this section shall not be construed to
prevent the debtor from bringing his
| action on cross-petition, or in an
original suit to recover twice the
amount of interest charged or paid
in said contract sued upon. Provided
further, the provisions of this act
shall not operate to repeal or modify
any of the provisions of the nego-
table instrument act.
Held Liable to Maker of Note.
Sec. 3. Any person, firm or corpo-
ration violating the provisions of this
act and the laws of this state re-
lating to the loaning of money by
taking, reserving, charging or receiv-
ing any usurious interest on any note,
bill or other evidence of debt and
who shall transfer the same to a
bona fide purchaser before due, shall |
be liable to the maker of said note |
bill or other evidence of debt for
double all such interest taken, re-
served, charged or received, and it
shall be competent to join in the
same action causes of action for re-
serving and charging usurious interest
with causes of action for taking and
receiving usurious interest and any
number of such causes of such ac-
lion may be joined in the same ac-
ion whether growing out of the same
transaction or different transactions
such usurious interest is
aiken, reserved, charged or received,
provided that the purchaser of any
note or evidence of debt with notice
n knowledge that same was executed
n violation of interest laws of the
state shall not be deemed an inno-
'ent purchaser and such contract
hall be held subject to all the de-
enses and penalties provided in this
ct.
provided furthel that causes of I
ction for the recovery of penalties !
reated in this act shall not be as, ,
ignable"
Sec. 4. No suit upon any contract {
ntered into after the passage and t
pproval of this act of $500 or less, 2
+ an action in replevin or to fore c
lose any mortgage or lien given as
ecurity therefor, shall be maintain
d in courts of this state, and no
etition or bill of particulars shall be
led with such bill of particulars or
etition, an affidavit setting forth that
lie contract sued on was not made
violation of the interest laws of
lis state, and that greater rate of
terest than 10 per cent has not
zen charged, reserved or collected
1 such contract or contracts sued =.
pom; provided, that if upon the trial a
any such suit brought upon any W
)te, bill or other evidence of in
'btedness of $500 or less, or in re-
eyin or for the foreclosure of any
IN given to secure the same, it
Ial be shown by the evidence that
e contract sued upon is usurious
I'd made in violation Of the interest
VS. of this state said suit shall be
smissed at the cost of the plalntiff.'
Banks to Report Interest Charged.
Sec. D. 1t shall be the duty of the
ticers of all state banks, organized
ID doing business under and by
rtue of the laws of the state. to
axe sworn quarterly report to the
nix commissioner, setting forth the
te of interest charged, retained, re-