Effective 5/14/2019 15-1-1. Interest rates — Contracted rate — Legal rate. (1) The parties to a lawful written, verbal, or implied contract may agree upon any rate of interest for the contract, including a contract for services, a loan or forbearance of any money, goods, or services, or a claim for breach of contract. (2) […]
15-1-3. Calculated by the year. Whenever in any statute or deed, or written or verbal contract, or in any public or private instrument whatever, any certain rate of interest is mentioned and no period of time is stated, interest shall be calculated at the rate mentioned by the year. No Change Since 1953
Effective 5/8/2018 15-1-4. Interest on judgments. (1) As used in this section, “federal postjudgment interest rate” means the interest rate established for the federal court system under 28 U.S.C. Sec. 1961, as amended. (2) (a) Except as provided in Subsection (2)(b), a judgment rendered on a lawful contract shall conform to the contract and shall […]
