§47-6-1. Money of Account
The money of account of this state shall be the dollar, cent and mill. All accounts by public officers shall be so kept.
§47-6-10. Corporations, Partnerships, and Limited Partnerships Not Entitled to Defense of Usury
No corporation, partnership, limited partnership or limited liability company may interpose the defense of usury in any civil action, nor may any bond, note, debt or contract of a corporation, partnership, limited partnership or limited liability company be set aside, impaired or adjudged invalid by reason of anything contained in the laws prohibiting usury.
§47-6-11. Certain Business Debts Exempt From Usury Laws
No law limiting interest rates or providing for forfeiture, penalty, or other loss or liability because of the rate of interest charged may be applied: (1) To any debt that is incurred by a loan, installment sale, or other similar transaction, and is incurred primarily for a business purpose; or
§47-6-2. Writing, Account or Entry Valid Although Sum Expressed in Other Money
No writing shall be invalid, nor the force of any account or entry be impaired, because a sum of money is expressed therein otherwise than in such money of account.
§47-6-3. In Suits for Foreign or Other Money, Value in Money of Account to Be Fixed
In any suit for a sum of money expressed in any foreign currency, or otherwise than in the money of account of this state, the jury, if there be one impaneled for any other purpose, and if not, the court, shall ascertain the value in such money of account of the sum so expressed, making […]
§47-6-4. Silver Coin as Legal Tender
The silver coin issued by the government of the United States shall be a legal tender for the payment of all debts heretofore or hereafter contracted by the citizens of this state, and the same shall be received in payment of all debts due to the citizens of this state, and in satisfaction of all […]
§47-6-5. Legal Rate of Interest; Agreements in Writing Fixing Rate of Interest; Agreements in Writing Fixing Rate of Interest for Residential Real Estate Purposes; Providing There May Be No Penalty Upon Prepayment; Quarterly Reports Required
(a) Except in cases where it is otherwise specially provided by law, legal interest shall continue to be at the rate of $6 upon $100 for a year, and proportionately for a greater or less sum, or for a longer or shorter time, and no person upon any contract other than a contract in writing […]
§47-6-5a. Interest Charges on Loans Repayable in Installments
Except in cases where it is otherwise specially provided by law, parties may contract for and charge interest for a secured or unsecured loan, repayable in installments at a rate not in excess of: (a) Six percent per annum upon the principal amount of the loan, for the entire period of the loan, and add […]
§47-6-5b. Legislative Findings; Fixing Maximum Interest Rate on Certain Loans and Forbearances of Money Secured by Mortgages or Deeds of Trust Upon Real Property; Authorizing Commissioner of Banking to Fix Maximum Interest Rate on Such Loans and Forbearances of Money; Prohibiting Penalty Upon Prepayment and Escalation of Interest Clause; Quarterly Reports Required
(a) The Legislature hereby finds and declares that: (1) Changes in permissible interest rates on nonprecomputed loans or forebearances of money require specialized knowledge of the needs for credit for the construction and purchase of adequate housing and of buildings and improvements for the establishment and expansion of businesses and agricultural enterprises and of the […]
§47-6-5c. Interest on the Forebearance of Money
Wherever any law authorizes any person to loan money at a certain rate of interest it shall also be lawful for such person to charge a like rate of interest for the forebearance of money.
§47-6-5d. Rebate Upon Prepayment, Refinancing, Consolidation or Otherwise; Liability and Penalties for Excess Charges
(a) Upon prepayment in full of a precomputed loan, credit sale or transaction, forbearance or similar transaction repayable according to its original terms over a period of thirty-six months or less, the creditor shall rebate that portion of the finance charge attributable to the prepaid periodic installment periods. When the total is payable in substantially […]
§47-6-6. Usury and Usurious Contracts; Penalties and Forfeitures
All contracts and assurances made directly or indirectly for the loan or forbearance of money or other thing at a greater rate of interest than is permitted by law shall be void as to all interest provided for in any such contract or assurance, and the borrower or debtor may, in addition, recover from the […]
§47-6-7. Pleading Usury; Reply; Evidence; Issues; Trial; Judgment
Any defendant may plead in general terms that the contract or assurance on which the action is brought was for the payment of interest at a greater rate than is allowed by law, to which plea the plaintiff shall reply generally, but may give in evidence upon the issue made up thereon any matter which […]
§47-6-8. Remedy in Equity; Injunction Against Sale of Security
Any borrower of money or other thing may exhibit a bill in equity against the lender, and compel him to discover upon oath the money or thing really lent, and all bargains, contracts, or shifts relative to such loan, and the interest or consideration of the same; and, if it appear that more than lawful […]
§47-6-9. Action or Suit to Recover Back Usurious Interest
If an excess beyond the lawful interest be paid in any case for the loan or forbearance of money or other thing, the person paying the same may in a suit or action recover the full amount of such payment from the person with whom the contract was made or to whom the assurance was […]