With respect to a consumer credit sale or consumer loan to which this Code does not otherwise apply by reason of Section 14A-1-201, if, pursuant to a solicitation relating to a consumer credit sale or loan received in this state, a person who is a resident of this state sends a signed writing evidencing the obligation or offer of the person to a creditor in another state, and the person receives the goods or services purchased or the cash proceeds of the loan in this state:

1. 1. The creditor may not contract for or receive charges exceeding those permitted by this Code, and such charges as do exceed those permitted are excess charges for purposes of Sections 14A-5-202 (3) and (4) and 14A-6-113 of the Code and such sections shall apply as though the consumer credit sale or consumer loan were made in this state; and
2. 2. The provisions on powers and functions of administrator (Part 1 of Article 6 of this Code) shall apply as though the consumer credit sale or consumer loan were made in this state.

Laws 1975, SB 351, c. 129, § 1, emerg. eff. May 13, 1975.