Montana § 31-1-106 Legal Interest

Montana Statutes

§ 31-1-106 — Legal Interest

Montana § 31-1-106

Title 31CREDIT TRANSACTIONS AND RELATIONSHIPS

Ch. 1CREDIT TRANSACTIONS

Part 1Loans of Money -- Interest Rates

This text of Montana § 31-1-106 (Legal Interest) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 31-1-106 (2026).

Text

31-1-106 . Legal interest.

(1)Except as otherwise provided by the Uniform Commercial Code, 31-1-111 , and 31-1-112 , unless there is an express contract in writing fixing a different rate or a law or ordinance or resolution of a public body fixing a different rate on its obligations, interest is payable on all money at the rate of 10% a year after it becomes due on:

(a)any instrument of writing, except a judgment;

(b)an account stated;

(c)money lent or due on any settlement of accounts from the date on which the balance is ascertained; and

(d)money received for the use of another person and detained from that person.

(2)In the computation of interest for a period of less than 1 year, 365 days constitute a year.

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31-1-106 . Legal interest. (1) Except as otherwise provided by the Uniform Commercial Code, 31-1-111 , and 31-1-112 , unless there is an express contract in writing fixing a different rate or a law or ordinance or resolution of a public body fixing a different rate on its obligations, interest is payable on all money at the rate of 10% a year after it becomes due on:
(a) any instrument of writing, except a judgment;
(b) an account stated;
(c) money lent or due on any settlement of accounts from the date on which the balance is ascertained; and
(d) money received for the use of another person and detained from that person.
(2) In the computation of interest for a period of less than 1 year, 365 days constitute a year.

Legislative History

En. Sec. 2585, Civ. C. 1895; amd. Sec. 1, p. 125, L. 1899; re-en. Sec. 5211, Rev. C. 1907; re-en. Sec. 7725, R.C.M. 1921; Cal. Civ. C. Sec. 1917; amd. Sec. 1, Ch. 144, L. 1933; re-en. Sec. 7725, R.C.M. 1935; amd. Sec. 11-130, Ch. 264, L. 1963; amd. Sec. 38, Ch. 234, L. 1971; amd. Sec. 11, Ch. 185, L. 1977; R.C.M. 1947, 47-124; amd. Sec. 3, Ch. 275, L. 1981; amd. Sec. 1, Ch. 9, L. 1983; amd. Sec. 1, Ch. 263, L. 1985; amd. Sec. 20, Ch. 455, L. 2001; amd. Sec. 1, Ch. 278, L. 2013.