American Savings Life Insurance v. Financial Affairs Management Co.

OPINION

HAIRE, Judge.

On this appeal the appellant lender (American Savings Life Insurance Company) raises several issues as possible grounds for reversal of the trial court’s judgment finding the subject loan transac tion usurious. A primary issue is whether a loan agreement, usurious when made, can be enforced according to its original terms when a subsequent statutory amendment authorizes the originally contracted-for interest rate. We hold that on the facts here presented, it can. In reaching this decision we find that even if the subject loan could have been considered usurious under the…