Court: OTC Company Has The Capacity To Protect Its Own Interests

Notably, California has a constitutional limitation on interest rates (Cal. Const. Art. XV, Section 1).   Section 25118 exempts certain evidences of indebtedness that meet specified conditions.  One of these conditions is that either:

Supreme Court: 1934 Amendment Repeals 1918 Limitation On Compound Interest

The same year that the Great War ended, the voters of California approved an initiative measure governing allowable interest rates.  This initiative remains uncodified but West Publisher designates these statutes as Civil Code Sections 1916-1 to...

Can Usury Ever Be Waived?

California courts have defined "usury" as "the exacting, taking or receiving of a greater rate than is allowed by law, for the use or loan of money." Ross v. Wheeler 140 Cal. App. 217, 222 (1934).  The California Constitution sets the maximum rate...