RS 3578.2 - Legislative intent
It is the intent of the legislature to regulate deferred presentment transactions and small loans. These loans meet a legitimate credit need for many consumers; however, in order to protect consumers from excessive charges, it is the intent of the legislature to put certain restrictions on lenders who make these loans.
Acts 1999, No. 1315, §§1, 2, eff. Jan. 1, 2000.