§ 19-14.2-7 - Assignment of wages simultaneous with loan – Liens on furniture.
SECTION 19-14.2-7
§ 19-14.2-7 Assignment of wagessimultaneous with loan – Liens on furniture. – No assignment of or order for payment of any salary, wages, commissions, orother compensation for services, earned or to be earned, given to secure anyloan made by any small loan lender under this chapter, shall be valid unlessthe amount of the loan is paid to the borrower simultaneously with itsexecution; nor shall the assignment or order, or any chattel mortgage or otherlien on household furniture then in the possession and use of the borrower, bevalid unless it is in writing, signed in person by the borrower, nor if theborrower is married unless it is signed in person by both husband and wife,provided that written assent of a spouse shall not be required when husband andwife have been living separate and apart for a period of at least five (5)months prior to the making of the assignment, order, mortgage, or lien.