Law No. 61 From 31 March 1931 Against Usury

Original Language Title:  LEGE nr. 61 din 31 martie 1931 contra cametei

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Law No. 61 from 31 March 1931 against usury, published in PARLIAMENT ISSUING the OFFICIAL GAZETTE nr. 77 of 2 April 1931 Article 1 legal annual interest rate is fixed at: 1% in Civil Affairs and 2% in the commercial business, counted over discounting Banca Naţională a României.


Article 2 the conventional interest rate annual cannot race 6% over discounting Banca Naţională a României.
Pretentiunea regarding the conventional interest rate cannot be harnessed in justice than when it is stipulated by the act.
When the debtor is held to pay any interest other than as is fixed by the act, he shall pay the legal interest rate.


Article 3 by interest means not only the amounts payable in money, but also any other prestaţiuni under any title or name, as equivalent to the use of capital, to which the debtor is obliged to use capital reckoned in cash.


Article 4 if it were stipulated that competing interest maximum shown by art. 2, for excess liability is null and void.
Laws covering interest stipulaţiuni higher peak fixes will not be able to be authenticated.
Laws covering interest stipulaţiuni higher peak; 2, will be tabulated or listed reserve, with adaugirea as interest rates fall to a maximum.
Sales contracts with pact of redemption and antichreza, to be concluded between the parties after the date of promulgation of the law, are null and void, and dispoziţiunile art. 1371-1387 including cod. CIV. 1697-1703 including cod. CIV. and the corresponding articles of the civil codes in force in the territories-are repealed.


Article 5 payment of advance interest cannot take place only on a maximum of 6 months.


Article 6 the interest of any kind shall be subject to if they were not requested or pursued for three years.


Article 7 of this law shall apply to Dispoziţiunile with retroactive effect.

the Interest of any kind) provided for in any acts by the existing time flowing from the promulgation of this law.
  

b) unearned Interest of any kind, deriving from any titles or previous convenţiuni with the promulgation of this law the charge, which reduces the effect of this law at 18% per annum with effect from 7 February 1929 (law of monetary stabilization). It exempts interest devoted by final court decisions.
  


Article 8 the lender who will receive or will be regulated by the very act of lending through the act separately, the disguised or act in any other way, bigger than a conventional interest rate fixed by this law, shall be punished with imprisonment from 2 months up to one year and fine from 5,000-20,000 Ron.
In the event of extenuating circumstances, the Court will not be able to reduce the penalty under 5,000 lei fine.
The same punishment will apply and that the science serves as mediator to commit delictului.


Article 9 If the offence provided for in art. 8 it was committed by a professional lender or by a person who previously has been convicted for the same offence, shall be punished with imprisonment from six months up to three years and with fine of 20,000 lei up to 100,000 lei, attracting and losing the political rights.
In the event of extenuating circumstances, the Court will not be able to descend into the sentencing below the minimum 20,000 lei, amendei.


Article 10 When the offence provided for in art. 8 and 9 to have been committed in the name of a company, the penalty will apply to those who have approved the conclusion of the business.
If the offence was committed by a holder of a trustee, or a penalty will be applied to both its and those on behalf of whom and with whom news tort was committed.


Article 11 public action on the basis of this Act shall be put in motion only after the request of the injured party, who will be able to formulate its claim through the same action for excess interest.
Reclamatiunea the debtor does not suspend the criminal in this matter over a civil or commercial actions.
The civil action or the debtor to reduce illegal interest stipulated to refund those illegally collected, will not be able to be conexata with the action of the creditor, but they will be judged separately.
Any probation means are admissible to prove the amount of interest already paid or those that have been stipulated to be paid.
Court jurisdiction to prosecute criminal proceedings brought on the basis of this Act, the Court is the place where the offence was committed.
Any act of procedure regarding criminal prosecution on the basis of reclamatiunii of this Act, is exempt from the stamp.
Final decision of condamnatiune will be published in a newspaper spread at the expense of the person convicted.


Article 12 All dispoziţiunile to the contrary from the laws in force are hereby repealed.
This law was voted by the Assembly of Deputies and the Senate in the meetings on 12 and 27 March 1931. It repealed article 52 of the law of 11 July judecaţilor acceleration.
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