Capital Loan & Savings Co. v. Biery

The principal question in this cause is whether the promissory note and chattel mortgage, executed and delivered by defendants to plaintiff, are void by reason of Sections 6346-5 and 6346-5a, General Code.

Section 6346-5 reads in part as follows: “No such licensee or licensees shall make a loan or purchase or furnish guaranty, or security, as hereinbefore provided at a greater total charge, including interest, than three per cent per month; except that on loans that do not exceed fifty dollars in amount, in whatever manner made payable, an inspection fee of not to exceed one dollar may be…