Mississippi § 75-67-119 - Penalties for imposition of excessive finance charges.
Full text of Mississippi Mississippi Code of 1972 Annotated § 75-67-119 — Penalties for imposition of excessive finance charges., with citation guidance and answers to common questions.
§ 75-67-119. Penalties for imposition of excessive finance charges.
If any finance charge in excess of that expressly permitted by Section 75-17-21 or 75-67-181 is contracted for or received, all finance charges and other charges shall be forfeited and may be recovered, whether the contract be executed or executory. If any finance charge is contracted for or received that exceeds the maximum finance charge authorized by law by more than one hundred percent (100%), the principal and all finance charges and other charges shall be forfeited and any amount paid may be recovered by suit; and, in addition, the licensee and the several members, officers, directors, agents, and employees thereof who shall have participated in such violation shall be guilty of a misdemeanor and, upon conviction thereof, shall be punished by a fine of not more than One Thousand Dollars ($1,000.00) and not less than One Hundred Dollars ($100.00), in the discretion of the court; and, further, the Commissioner of Banking and Consumer Finance shall forthwith cite such licensee to show cause why its license should not be revoked and proceedings thereon shall be as is specifically provided in the Small Loan Privilege Tax Law (Section 75-67-201 et seq.).
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 75-67-119
What does Mississippi Code of 1972 Annotated § 75-67-119 cover?
Section 75-67-119 ("Penalties for imposition of excessive finance charges.") is part of the Mississippi Code of 1972 Annotated, the codified statutory law of Mississippi. 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 Mississippi § 75-67-119?
A common citation format is "Mississippi Code of 1972 Annotated § 75-67-119" (Mississippi). 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 Mississippi law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Mississippi official source linked on this page or consult a licensed Mississippi attorney.
How does Mississippi § 75-67-119 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Mississippi 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 Mississippi.