58-15-32. Demands for pay day loans.
A. No licensee shall make a quick payday loan to a customer if the full total principal quantity of the mortgage and charges, whenever combined with major quantity and costs of all the customer’s other outstanding cash advance items, surpasses twenty-five per cent associated with the customer’s gross income that is monthly.
B. Without impacting the liberties of the customer to prepay a cash advance product|loan that is payday at any moment without additional expense or penalty:
(1) no cash advance shall have stated readiness higher than thirty-five times;
(2) no cash advance shall have a stated minimum term lower than a fortnight unless decided to on paper because of the customer; and
(3) there will be a scheduled pay date for the consumer inside the expression associated with loan that is payday.