Section 15100(o) and Usury
Yesterday, I wrote about the continued significance of certification by the Commissioner of Corporations of national securities exchanges pursuant to Section 25100(o) of the Corporations Code. Today is Part 2 of that discussion.
As discussed in this earlier post (“The ‘Usury Permit’ – Fact or Fiction?”), the California Constitution imposes limitations on the amounts that may be charged for a loan or forbearance. Cal. Const. Art. XV. The Constitution permits the legislature to create a class of transactions or persons who are exempt from these usury provisions. Pursuant to this authority, the California legislature has enacted Section 25117 of the California Corporations Code.
Please see full publication below for more information.