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2001 SESSION
(SB1079)AMENDMENT(S) REJECTED BY THE HOUSE
DEL. GRAYSON
Line 25, engrossed, after indebtedness.
insert
C. Notwithstanding any other law of this Commonwealth, of any other state, territory or possessions of the United States, or the federal government, no person, entity, or organization, other than licensed pawnbrokers shall make or participate in the making, of a loan upon which interest is charged or contracted for at a rate exceeding seventy-two percent per year. Violation of this section shall constitute a Class 1 misdemeanor. If the violator is not an individual, violation of this section shall be punishable by a fine of up to $50,000 per loan. Venue for prosecution of a violation of this section shall be proper in any jurisdiction in the Commonwealth in which any act relating to the making of a loan occurred or in which any communication relating to the making of a loan is sent or received.