54-4-44.4 Business-to-business lending exempt.
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Business-to-business lending exempt.
The provisions of § 54-4-44 that place
limitations on licensees that are engaged in the business of making loans do not apply to a licensee
engaged in business-to-business lending. For purposes of this section, the term, business-to-business
lending, means any lending to or in furtherance of a business, commercial, or agricultural venture
that is not for personal, family, or household use and is not secured by a nonpurchase money security
interest in a motor vehicle. Any business-to-business lending subject to the provisions of this section
shall be in an amount not less than five thousand dollars and only to a borrower with a federal
employer identification number.
Source: SL 2017, ch 206, § 1; SL 2018, ch 272, § 1.
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