§ 46-f. Limit on interest and other charges. Except as provided in
article nine of the banking law, no person shall directly or indirectly
receive or accept, whether by discount or otherwise, for the use and
sale of his personal credit or for making or continuing any advance or
loan of money (1) in anticipation of earnings assigned outright, or (2)
on the security of an assignment of any earnings assigned as security, a
greater sum than at the rate of eighteen per centum per annum on the
amount of such loan or advance, either as a bonus, interest or
otherwise, or under the guise of a charge for investigating the status
of a person applying for such loan or advance, or drawing of papers or
other service in connection with such loan or advance, except such
charges as are now permitted by section 5-531 of the general obligations
law. Any assignment, whether outright or as security, which is made
wholly or partly in consideration of or as security for a loan or
advance which violates this section, shall be void, and invalid for any
purpose whatsoever. Every person, firm, corporation, director, agent,
officer or member thereof who shall violate any provision of this
section, directly or indirectly, or assent to such violation shall be
guilty of a misdemeanor.