N.Y. General Business Law Section 46
Rate of interest

Notwithstanding any general or special statutes, local laws and ordinances to the contrary, no collateral loan broker shall ask, demand or receive any greater rate of interest than four per centum per month, or any fraction of a month, and a notice containing a list of such rates of interest as herein provided and in accordance with the act of congress entitled “Truth in Lending Act” and the regulations thereunder, as such act and regulations may from time to time be amended shall be conspicuously displayed within the premises of such collateral loan broker. A minimum interest charge of twenty-five cents per month may be made on any loan. No collateral loan broker shall receive or be entitled to any interest or charges as provided by this article on any loan for any period of time exceeding fifteen months from the date of the making of such loan, provided however that where a loan is extended at the direct request of the pledgor, the collateral loan broker may receive and be entitled to any interest or charges provided by this article on such loan for any period of time not to exceed fifteen months from the date of such extension.

Source: Section 46 — Rate of interest, https://www.­nysenate.­gov/legislation/laws/GBS/46 (updated Sep. 22, 2014; accessed Nov. 1, 2025).

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Verified:
Nov. 1, 2025

Last modified:
Sep. 22, 2014

§ 46. Rate of interest's source at nysenate​.gov

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