Bank Loans

Umsted, Deputy Attorney General,

You have requested us to interpret subsection (4) of section 1001 of the Banking Code of May 15, 1933, P. L. 624, as amended by the Act of April 6, 1945, P. L. 155, as it pertains to a transaction wherein a bank has loaned a sum in excess of $3,500, payable in substan*375tially equal instalments over a period not exceeding three years and has charged and collected in advance six dollars per one hundred dollars per annum upon the original face amount of the instrument evidencing the loan, for the entire period of the loan.

Subsection (4) of section 1001 of the…