Montana § 31-1-107 - Interest Rate Allowed By Agreement
Full text of Montana Montana Code Annotated § 31-1-107 — Interest Rate Allowed By Agreement, with citation guidance and answers to common questions.
§ 31-1-107. Interest Rate Allowed By Agreement
Interest rate allowed by agreement. (1) Parties may agree in writing to the payment of any rate of interest that does not exceed the greater of 15% or an amount that is 6 percentage points per year above the prime rate published by the federal reserve system in its statistical release H.15 Selected Interest Rates for bank prime loans dated 3 business days prior to the execution of the agreement. Interest must be allowed according to the terms of the agreement. (2) A loan that is not usurious when made is lawful for the duration of the loan, provided the loan agreement is not substantially changed. This subsection does not apply to loan renewals. (3) The provisions of this section do not apply to regulated lenders as defined in 31-1-111 .
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 31-1-107
What does Montana Code Annotated § 31-1-107 cover?
Section 31-1-107 ("Interest Rate Allowed By Agreement") is part of the Montana Code Annotated, the codified statutory law of Montana. 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 Montana § 31-1-107?
A common citation format is "Montana Code Annotated § 31-1-107" (Montana). 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 Montana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Montana official source linked on this page or consult a licensed Montana attorney.
How does Montana § 31-1-107 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Montana 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 Montana.