Tennessee § 47-14-104 Single payment loans

Tennessee Statutes

§ 47-14-104 — Single payment loans

Tennessee § 47-14-104

Title47

This text of Tennessee § 47-14-104 (Single payment loans) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 47-14-104 (2026).

Text

(a)Notwithstanding this or other statutes, for all single payment loans for a term of one (1) year or less, in an original principal amount of one thousand dollars ($1,000) or less:

(1)The maximum effective rate of interest shall be that rate fixed, from time to time, as fair and reasonable, by rule adopted by the commissioner of financial institutions, but in no event to exceed ten percent (10%) per annum; and (2) A loan charge may be exacted at a rate not to exceed seven dollars and fifty cents ($7.50) on the first one hundred dollars ($100) of principal and one dollar and fifty cents ($1.50) per one hundred dollars ($100) of principal thereafter, up to a maximum of twenty dollars ($20.00) for any loan; provided, that no such loan charge may be assessed upon the renewal of any such loa

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Notwithstanding this or other statutes, for all single payment loans for a term of one (1) year or less, in an original principal amount of one thousand dollars ($1,000) or less: (1) The maximum effective rate of interest shall be that rate fixed, from time to time, as fair and reasonable, by rule adopted by the commissioner of financial institutions, but in no event to exceed ten percent (10%) per annum; and (2) A loan charge may be exacted at a rate not to exceed seven dollars and fifty cents ($7.50) on the first one hundred dollars ($100) of principal and one dollar and fifty cents ($1.50) per one hundred dollars ($100) of principal thereafter, up to a maximum of twenty dollars ($20.00) for any loan; provided, that no such loan charge may be assessed upon the renewal of any such loan. (b) The commissioner shall adopt reasonable rules and regulations to prevent abuses in the collection of interest, loan charges, and any other charges made in connection with or in relation to such single payment loans.