Tribble v. State

Code (Ann. Supp.) § 57-116 provides in part as follows: “Any person, natural or artificial, in this State, lending money to be paid back in monthly, quarterly, or yearly installments, may charge interest thereon at 6% per annum or less for the entire period of the loan, aggregating the principal and interest for .the entire period of the loan, and dividing the same into monthly, quarterly or yearly installments, and may take security therefor . . . and such contract shall not be held usurious.” This section is in derogation of Code § 57-101, forbidding the charging of interest at a rate…