§ 40-14-507 — Extortionate extensions of credit

(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) If it is shown that an extension of credit was made at
an annual rate exceeding forty-five percent (45%) 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, there is prima facie evidence
that the extension of credit was unenforceable under subsection
(a) of this section.