American Samoa § 28.1505 - Open
Full text of American Samoa American Samoa Code Annotated § 28.1505 — Open, with citation guidance and answers to common questions.
§ 28.1505. Open
(a) Notwithstanding any other provision to the contrary, the maximum rate of interest chargeable on open-end credit issued in American Samoa shall be determined by reference to the law of the creditor’s principal place of business. (b) Open-end credit means credit extended by a creditor under a plan which: (1) The creditor reasonably contemplates repeated transactions, (2) The creditor may impose a finance charge from time to time on an outstanding unpaid balance, and (3) The amount of credit that may be extended during the term of the plan (up to any limit set by the creditor) is generally made available to the extent that any outstanding balance is repaid. (c) Creditor means a person who extends credit that is subject to a finance charge. (d) Person means a natural person or an organization, including a corporation, partnership, proprietorship, association, cooperative, estate, trust, or government unit.
Frequently Asked Questions About American Samoa § 28.1505
What does American Samoa Code Annotated § 28.1505 cover?
Section 28.1505 ("Open") is part of the American Samoa Code Annotated, the codified statutory law of American Samoa. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite American Samoa § 28.1505?
A common citation format is "American Samoa Code Annotated § 28.1505" (American Samoa). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of American Samoa law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the American Samoa official source linked on this page or consult a licensed American Samoa attorney.
How does American Samoa § 28.1505 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in American Samoa can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in American Samoa.