§ 4-3-112 — Interest

Colorado § 4-3-112

• Jurisdiction: Colorado
• Title 04: Uniform
• Art.: Negotiable Instruments

Text

(a) Unless otherwise provided in the instrument, (i) an
instrument is not payable with interest, and (ii) interest on an interest-bearing
instrument is payable from the date of the instrument.

(b) Interest may be stated in an instrument as a fixed or variable amount of
money or it may be expressed as a fixed or variable rate or rates. The amount or
rate of interest may be stated or described in the instrument in any manner and may
require reference to information not contained in the instrument. If an instrument
provides for interest, but the amount of interest payable cannot be ascertained
from the description, interest is payable at the judgment rate in effect at the place
of payment of the instrument and at the time interest first accrues.

Legislative History

Source: L. 94: Entire article R&RE, p. 847, � 1, effective January 1, 1995.