State Act
6
Section 6. Interest and charges allowed to pawn-brokers.
THE KARNATAKA PAWNBROKERS ACT, 1961
Act no. 13 of 19621961In forceKarnataka (State Act)
6. Interest and charges allowed to pawn-brokers.—(1) No pawn-broker shall charge interest in respect of a loan on a pledge at a rate exceeding nine per cent per annum simple interest or at such other rate as the State Government may by notification fix from time to time. (2) A pawnbroker may demand and take from the pawner such charges and in such cases as may be prescribed. (3) A pawnbroker shall not demand or take from the pawner any profit, interest, charge or sum whatsoever, other than the interest due to him and the charges, if any, referred to in sub-section (2).