(1) Any person who engages in the business of offering credit availability transactions without first securing a license prescribed by this article shall be guilty of a misdemeanor and upon conviction thereof, shall be punishable by a fine not to exceed One Thousand Dollars ($1,000.00) or by confinement in the county jail for not more than one (1) year, or both.(2) Any person who engages in the business of offering credit availability transactions without first securing a license prescribed by this article shall be liable for the full amount of the license fee, plus a penalty in an amount not to exceed Twenty-five Dollars ($25.00) for each day that the person engaged in the business without a license. All licensing fees and penalties shall be paid into the Consumer Finance Fund of the Department of Banking and Consumer Finance.Reenacted by Laws, 2021, ch. 353, HB 1075,§ 14, eff. 7/1/2021.Reenacted without change by Laws, 2018, ch. 404, HB 811,§ 14, eff. 7/1/2018.Added by Laws, 2016, ch. 500, SB 2409, 14, eff. 7/1/2016.
Mississippi Legal Code