For purposes of this chapter, the payment of $25,000 or less in money, credit, goods, or things in action, as consideration for the sale or assignment of, or order for, the payment of wages, salary, commissions, or other compensation for services, whether earned or to be earned, is considered a loan, and the difference between the payment and the amount of the compensation sold or assigned is considered interest or a charge upon the loan from the date of payment to the date the compensation is payable. Such a transaction is governed by this chapter.
Section: Previous 06.20.200 06.20.210 06.20.220 06.20.230 06.20.240 06.20.250 06.20.260 06.20.270 06.20.280 06.20.285 06.20.287 06.20.290 06.20.300 NextLast modified: November 15, 2016