Kansas payday loan laws

Legal Status:  Legal

Citation:  Kan. Stat. Ann. § 16a-2-404, 405

Loan Terms: 

Maximum Loan Amount:  $500
Loan Term:  7-30 days
Maximum Finance Rate and Fees:  15% of loan
Finance Charge for 14-day $100 loan:  $15
APR for 14-day $100 loan:  390%

Debt Limits:

Maximum Number of Outstanding Loans at One Time:  Two. May not make more than three loans to a borrower within 30 day period.
Rollovers Permitted:  No
Cooling-off Period:
Repayment Plan:

Collection Limits:

Collection Fees:  One NSF fee
Criminal Action:  Prohibited

Where to Complain, Get Information:
Regulator: Office of the State Bank Commissioner
Address: 700 SW Jackson, Suite 300 Topeka KS 66603
Phone: (785) 296-2266 
Fax: (785) 296-6037

Sourced from paydayloaninfo.org

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