Where can I find information on North Dakota usuary laws?

Answer 1

Applicability of state usury laws
North Dakota usury law is found in Chapter 47-14 of the North Dakota Century Code. Taking or agreeing to take an illegal rate of interest, or
compounding interest or charging interest on interest overdue is considered usury. § 47-14-09. A valid
contract that agrees that a person will pay interest on overdue interest is not usury. § 47-14-09. The
penalty for usury is to forfeit all interest and 25% of the principal. Where the borrower paid usury, they may
recover double the interest paid and 25% of the principal if they commence an action within four years after
the transaction date. § 47-14-10. Usury is considered a class B misdemeanor. § 47-14-11