TATE, Justice.
La.R.S. 9:3501 provides for forfeiture "of interest in excess of that authorized by law" collected by virtue of a contract so providing. The issue before us is whether a lender may avoid forfeiture of payments made and received as usurious interest, by re-characterizing them as payments on principal, after the borrower disputes their usurious character.
We hold that the lender may not avoid forfeiture of usurious interest under such circumstances...
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