Every licensee who is the holder of any small loan note shall deliver to the borrower, at the time any small loan is made, a statement of the law regarding interest rate and term limitations, in plain English, showing in clear and distinct terms the amount and date of the loan and of its maturity; the nature of the security, if any, for the loan; the name and address of the borrower and of the licensee; and the agreed rate of interest.
History of Section.
P.L. 1995, ch. 82, § 54.