|
State
|
SOL
(Years)
|
Maximum
Interest Rate (%)
|
|
Alabama
|
20
|
12
|
|
Arkansas
|
10
|
10.5
|
|
Alaska
|
5
|
10
|
|
Arizona
|
10
|
Fed
+ 5
|
|
California
|
10
|
10
|
|
Colorado
|
20
|
8
|
|
Connecticut
|
20
|
10
|
|
Delaware
|
No
Limit
|
Legal
+ Fed Discount + 5
|
|
D.C.
|
3
|
70%
of interest rate
or 6% if not specified
|
|
Florida
|
20
|
10
|
|
Georgia
|
7
|
12
|
|
Hawaii
|
10
|
10
|
|
Iowa
|
6
|
10.875
|
|
Idaho
|
20
|
9
|
|
Illinois
|
20
|
8
|
|
Indiana
|
20
|
10
|
|
Kansas
|
5
|
4%
above Fed Discount
|
|
Kentucky
|
15
|
12
|
|
Louisiana
|
10
|
9
|
|
Maine
|
20
|
7.5
|
|
Maryland
|
12
|
15%
if under 30 months,
T-bill rate if over 30 months
|
|
Massachusetts
|
20
|
10
|
|
Michigan
|
10
|
20
|
|
Minnesota
|
10
|
6.953
|
|
Mississippi
|
7
|
5%
changes yearly
|
|
Missouri
|
10
|
Amount
in contract
|
|
Montana
|
10
|
9
|
|
North
Carolina
|
5
|
10
|
|
North
Dakota
|
6
|
1%
above bond equiv Yield
|
|
Nebraska
|
20
|
2%
above Prime
|
|
New
Hampshire
|
20
|
10
|
|
New
Jersey
|
14
|
No
provisions
|
|
New
Mexico
|
20
|
8.75%
without written contract
|
|
Nevada
|
10
|
9
|
|
New
York
|
10
|
8
|
|
Ohio
|
21
|
12
|
|
Oklahoma
|
5
|
10
|
|
Oregon
|
10
|
4%
over T-bill
|
|
Pennsylvania
|
4
|
9%
renewable @10 yrs
|
|
Rhode
Island
|
20
|
6
|
|
South
Carolina
|
10
|
12
|
|
South
Dakota
|
20
|
14
|
|
Tennessee
|
10
|
10
|
|
Texas
|
10
|
10
|
|
Utah
|
8
|
can
be 18% w/Agreement
or 6% without
|
|
Virginia
|
8
|
Judgement
Contract Rate
|
|
Vermont
|
20
|
12
|
|
Washington
|
10
|
9
|
|
Wisconsin
|
10
|
12
|
|
West
Virginia
|
20
|
10
|
|
Wyoming
|
5
|
12
|
