Mississippi § 75-67-41 - Loan paid before maturity; how.
Full text of Mississippi Mississippi Code of 1972 Annotated § 75-67-41 — Loan paid before maturity; how., with citation guidance and answers to common questions.
§ 75-67-41. Loan paid before maturity; how.
In any such loan contract as authorized in Section 75-67-39, provision may be made requiring the borrower, upon exercising any option to repay the loan before maturity, or upon any default in the payment of the monthly instalments of principal and interest, or upon the breach of any covenant entitling the lender to declare the whole indebtedness due and payable and to a foreclosure of the security, to repay the loan upon the following basis of settlement: The principal debt, with interest thereon at the rate of ten percent (10%) per annum, and allowing credit for all payments of instalments of principal and interest upon loan, with interest thereon at the rate of ten percent (10%) per annum from date of payment to said lender, computed annually in accordance with the laws of the State of Mississippi. Any such loan contract, and all provisions thereof, shall be valid for the amount of the principal and interest charged, and such contracts shall not be held usurious.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 75-67-41
What does Mississippi Code of 1972 Annotated § 75-67-41 cover?
Section 75-67-41 ("Loan paid before maturity; how.") is part of the Mississippi Code of 1972 Annotated, the codified statutory law of Mississippi. 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 Mississippi § 75-67-41?
A common citation format is "Mississippi Code of 1972 Annotated § 75-67-41" (Mississippi). 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 Mississippi law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Mississippi official source linked on this page or consult a licensed Mississippi attorney.
How does Mississippi § 75-67-41 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Mississippi 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 Mississippi.