New Mexico Statutes
§ 56-8-3 — Interest rate; no written contract
The rate of interest, in the absence of a written contract fixing a different rate, shall be not more than fifteen percent annually in the following cases: A. on money due by contract; B. on money received to the use of another and retained without the owner's consent expressed or implied; and C. on money due upon the settlement of matured accounts from the day the balance is ascertained.
Free access — add to your briefcase to read the full text and ask questions with AI
New Mexico § 56-8-3 (Interest rate; no written contract) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
1978 Comp., § 56-8-3, enacted by Laws 1983, ch. 254, § 1.
Nearby Sections
15
§ 56-1-1
Definitions§ 56-1-10
Injunction to prevent violation§ 56-1-11
Consent to discontinuance§ 56-1-12
Violation of injunction; penalty§ 56-1-13
Contracts executed prior to act§ 56-1-16
Variable rates§ 56-1-2.1
Repealed§ 56-1-3
Retail charge agreements§ 56-1-3.1
Repealed§ 56-1-4
Insurance§ 56-1-5
Prohibited provisions§ 56-1-6
Assignment