Miss. Code Ann. » Miss. Code Ann. / Title 75 / Chapter 17
Mississippi Code

Miss. Code Ann. § 75-17-3 (2024)

Evasion of six percent interest law; interest forfeited if higher rate secretly exacted

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If any person shall lend to another any sum of money and take any note or evidence of debt which shall stipulate a rate of interest not greater than six (6) per centum per annum after the date of the loan or after maturity, but who shall in fact contract for, charge, collect or receive as compensation or consideration for, or as the result of, such loan, directly or indirectly, a sum of money in excess of six (6) per centum per annum from the date of the loan, or a sum of money when taken with the interest contracted for, is in excess of six (6) per centum per annum from the date of the loan, such person shall forfeit all interest, and if the interest shall have been paid, same may be recovered by suit.

Codes, Hemingway's 1917, § 2076; 1930, § 1947; 1942, § 37; Laws, 1914, ch. 137.

Notes of Decisions
Cited in 1 case, 1995–1995 · leading case: Draper v. Draper, 658 So. 2d 866 (Miss. 1995).
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Draper v. Draper, 658 So. 2d 866 (Miss. 1995). “Miss. Code Ann. § 75-17-3 provides that the judge hearing a complaint shall make an award of interest on judgments or decrees at a per annum rate accrued from a date determined to be fair by the judge hearing the complaint, except that it may not accrue prior to the filing of…”
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