§478-6 - Usury; penalty. - Hawaii Statutes

     §478-6  Usury; penalty.  Any person who directly or indirectly receives any interest or finance charge at a rate greater than that permitted by law or who, by any method or device whatsoever, receives or arranges for the receipt of interest or finance charge at a greater rate than that permitted by law on any credit transaction shall be guilty of usury and shall be fined not more than $250, or imprisoned not more than one year, or both. [L 1905, c 38, §1; RL 1925, §3589; am L 1933, c 72, §1; RL 1935, §7055; am L 1937, c 222, §1; RL 1945, §8736; RL 1955, §191-6; HRS §478-6; gen ch 1985; am L 1986, c 137, pt of §1]

 

Law Journals and Reviews

 

  The Corporate Usury Exemption Statute in Hawaii:  An Invitation to Litigation.  9 HBJ 5.

  Administering Justice or Just Administration: The Hawaii Supreme Court and the Intermediate Court of Appeals.  14 UH L. Rev. 271.

 

Case Notes

 

  This section considered with §§1-6 and 478-4 in determining whether usurious contract void as to interest.  49 H. 160, 185, 413 P.2d 221, reh'g den. 49 H. 255, 413 P.2d 221.

  Elements of usury.  62 H. 583, 618 P.2d 276.

  Attorney has a duty when drawing a promissory note to see that it is not usurious and the attorney can be held liable for damages if the attorney does not.  1 H. App. 331, 618 P.2d 1157.

  Cited:  36 H. 107, 109; 37 H. 295, 298.