Indiana § 26-2-3-7 - Damages payable on protest for nonpayment or nonacceptance of bill of exchange
Full text of Indiana Indiana Code § 26-2-3-7 — Damages payable on protest for nonpayment or nonacceptance of bill of exchange, with citation guidance and answers to common questions.
§ 26-2-3-7. Damages payable on protest for nonpayment or nonacceptance of bill of exchange
Sec. 7. Damages payable on protest for nonpayment or nonacceptance of a bill of exchange, drawn or negotiated within this state, shall be, if drawn upon any person at any place out of this state, but within the United States, five per cent (5%), but if upon any person at any place without the United States, ten per cent (10%) on the principal of such bill.
Formerly: Acts 1861, c.75, s.7.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 26-2-3-7
What does Indiana Code § 26-2-3-7 cover?
Section 26-2-3-7 ("Damages payable on protest for nonpayment or nonacceptance of bill of exchange") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 26-2-3-7?
A common citation format is "Indiana Code § 26-2-3-7" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 26-2-3-7 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.