Indiana § 22-2-7-3 - Interest; rates and charges
Full text of Indiana Indiana Code § 22-2-7-3 — Interest; rates and charges, with citation guidance and answers to common questions.
§ 22-2-7-3. Interest; rates and charges
Sec. 3. No wage broker shall ask, demand or receive, either as compensation or interest, or in any other manner, directly or indirectly, any compensation or interest for the use of money advanced or loaned by him to any employee or wage earner in excess of the rate of eight per cent (8%) per year, and said compensation or rate of interest shall be computed upon the amount actually advanced to and received by the borrower, and no commission, compensation or charges in addition to the interest above named shall be asked, demanded or received by said wage broker or any other person for making or securing said advancement or loan.
Formerly: Acts 1909, c.34, s.3.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 22-2-7-3
What does Indiana Code § 22-2-7-3 cover?
Section 22-2-7-3 ("Interest; rates and charges") is part of the Indiana Code, the codified statutory law of Indiana. 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 Indiana § 22-2-7-3?
A common citation format is "Indiana Code § 22-2-7-3" (Indiana). 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 Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 22-2-7-3 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana 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 Indiana.