Rhode Island § 6-26-11 § 6-26-11. Medical debt interest cap.

Rhode Island Statutes

§ 6-26-11 — § 6-26-11. Medical debt interest cap.

Rhode Island § 6-26-11

Title 6Commercial Law – General Regulatory Provisions

Ch. 6-26Interest and Usury

This text of Rhode Island § 6-26-11 (§ 6-26-11. Medical debt interest cap.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 6-26-11 (2026).

Text

§ 6-26-11. Medical debt interest cap.
(a) For purposes of this section "medical debtâ€� means an obligation of a consumer to pay
            an amount for the receipt of healthcare services as defined by § 27-81-3, products, or devices, owed to a healthcare facility or a healthcare professional
            as defined by § 27-81-3.
         
(b) Interest on medical debt shall be limited to the rate of interest equal to the weekly
            average one-year constant maturity Treasury yield, but not less than one and a half
            percent per annum (1.5% p.a.) nor more than four percent per annum (4% p.a.) as published
            by the Board of Governors of the Federal 

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§ 6-26-11. Medical debt interest cap.

(a) For purposes of this section "medical debtâ€� means an obligation of a consumer to pay an amount for the receipt of healthcare services as defined by § 27-81-3, products, or devices, owed to a healthcare facility or a healthcare professional as defined by § 27-81-3.

(b) Interest on medical debt shall be limited to the rate of interest equal to the weekly average one-year constant maturity Treasury yield, but not less than one and a half percent per annum (1.5% p.a.) nor more than four percent per annum (4% p.a.) as published by the Board of Governors of the Federal Reserve System, for the calendar week preceding the date when the consumer was first provided with a bill.

(c) The rate of interest provided in subsection (b) of this section shall only be applied to new debt incurred after June 26, 2025.