Connecticut § 36a-685 (Formerly Sec. 36-415). Unenforceable agreements.

Connecticut Statutes

§ 36a-685 — (Formerly Sec. 36-415). Unenforceable agreements.

Connecticut·Title 36a The Banking Law of Connecticut·Ch. 669 Regulated Activities

(a)If it is the understanding of the creditor and the debtor at the time an extension of credit is made that delay in making repayment or failure to make repayment could result in the use of violence or other criminal means to cause harm to the person, reputation or property of any person, the repayment of the extension of credit is unenforceable through civil judicial processes against the debtor.

(b)Proof that an extension of credit was made at an annual rate exceeding forty-five per cent calculated according to the actuarial method, and that the creditor then had a reputation for the use or threat of use of violence or other criminal means to cause harm to the person, reputation or property of any person to collect extensions of credit or to punish the nonrepayment thereof, is prima f

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(a) If it is the understanding of the creditor and the debtor at the time an extension of credit is made that delay in making repayment or failure to make repayment could result in the use of violence or other criminal means to cause harm to the person, reputation or property of any person, the repayment of the extension of credit is unenforceable through civil judicial processes against the debtor. (b) Proof that an extension of credit was made at an annual rate exceeding forty-five per cent calculated according to the actuarial method, and that the creditor then had a reputation for the use or threat of use of violence or other criminal means to cause harm to the person, reputation or property of any person to collect extensions of credit or to punish the nonrepayment thereof, is prima facie evidence that the extension of credit was unenforceable under subsection (a) of this section.

Connecticut § 36a-685 ((Formerly Sec. 36-415). Unenforceable agreements.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

(1969, P.A. 454, S. 23; P.A. 05-288, S. 209.) History: Sec. 36-415 transferred to Sec. 36a-685 in 1995; P.A. 05-288 made a technical change in Subsec. (b), effective July 13, 2005.