Louisiana Revised Statutes & Codes
La. Rev. Stat. § 9:3501 (2026)
Forfeiture of interest
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CODE TITLE XII--OF LOAN
CHAPTER 1. INTEREST
PART I. IN GENERAL
§3501. Forfeiture of interest
Any contract for the payment of interest in excess of that authorized by law shall result in the forfeiture of the entire interest so contracted.
Notes of Decisions
Cited in 69
cases, 1962–2018 · leading case: Thrift Funds of Baton Rouge, Inc. v. Jones, 274 So. 2d 150 (La. 1973).
Thrift Funds of Baton Rouge, Inc. v. Jones, 274 So. 2d 150 (La. 1973). “" Both the trial and the intermediate court held that the unambiguous meaning of the statute is to cause the forfeiture of all interest due on the contract, not just the usurious portion of it and not just during the period that usurious charges were exacted.”
Paulat v. Pirello, 353 So. 2d 1307 (La. 1977). “R.S. 9:3501 provides for forfeiture "of interest in excess of that authorized by law" collected by virtue of a contract so providing.”
Coffey v. Peoples Mortg. & Loan of Shreveport, 408 So. 2d 1153 (La. Ct. App. 1981). “Defendant appeals a summary judgment applying LRS 9:3501 and ordering a forfeiture of $20,317 in interest paid by plaintiffs under the terms of a $121,491 secured note and mortgage executed by plaintiffs in connection with their purchase of a residence in December 1978.”
Bonfanti v. Davis, 487 So. 2d 165 (La. Ct. App. 1986). “Clearly, the interest as provided by the lease was usurious. Any contract for the payment of interest in excess of that authorized by law shall result in the forfeiture of the entire interest so contracted.”
Karmgard v. Southland Mortg. & Title Co., 341 So. 2d 1109 (La. 1977). “R.S. 9:3501. [3] The legal issues in this case revolve around the amount of interest charged and collected on the two notes (a total of $15,400), whether all such interest was capitalized in the respective notes, and if not, whether interest collected, in addition to the…”
Huddleston v. Bossier Bank & Trust Co., 475 So. 2d 1082 (La. 1985). “R.S. 9:3501. CALOGERO, Justice, dissenting.”
English Turn Prop. Owner's Ass'n v. Short, 204 So. 3d 672 (La. Ct. App. 2016). “R.S. 9:3501 (although we note that the covenants specifically limit the interest rate to the maximum allowed under Louisiana law and as on that basis, could not be found usurious).”
Spencer v. Boucher, 587 So. 2d 97 (La. Ct. App. 1991). “The penalty for charging a usurious amount of interest is forfeiture of all the interest under the contract, even that which is not usurious, whether such be stipulated as interest, capitalized interest or other charges for the use of or delay in paying money, however denoted.”
Blanchard v. Progressive Bank & Trust Co., 413 So. 2d 589 (La. Ct. App. 1982). “R.S. 9:3501. [4] Parol evidence may be admitted to show that usurious interest was paid and accepted.”
Richard v. Vidrine Auto. Servs., 729 So. 2d 1174 (La. Ct. App. 1999). “R.S. 9:3501, [9] any contract for the payment of interest in excess of that authorized by law shall result in the forfeiture of the entire interest so contracted.”
Associated Press v. Toledo Investments, Inc., 389 So. 2d 752 (La. Ct. App. 1980). “2924; LSA-R.S. 9:3501. To the contrary, New York law makes no distinction between damages recoverable for breach of contracts to pay money and damages recoverable for breach of other contracts.”
Budget Plan of Baton Rouge, Inc. v. Talbert, 276 So. 2d 297 (La. 1973). “Defendant further shows that this note is a contract for the payment of interest in excess of that authorized by law and, hence, pursuant to R.S. 9:3501, plaintiff is required to forfeit the entire amount of interest represented in said note.”
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