Montana § 31-1-106 - Legal Interest
Full text of Montana Montana Code Annotated § 31-1-106 — Legal Interest, with citation guidance and answers to common questions.
§ 31-1-106. Legal Interest
Legal interest. (1) Except as otherwise provided by the Uniform Commercial Code, 31-1-111 , and 31-1-112 , unless there is an express contract in writing fixing a different rate or a law or ordinance or resolution of a public body fixing a different rate on its obligations, interest is payable on all money at the rate of 10% a year after it becomes due on: (a) any instrument of writing, except a judgment; (b) an account stated; (c) money lent or due on any settlement of accounts from the date on which the balance is ascertained; and (d) money received for the use of another person and detained from that person. (2) In the computation of interest for a period of less than 1 year, 365 days constitute a year.
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 31-1-106
What does Montana Code Annotated § 31-1-106 cover?
Section 31-1-106 ("Legal Interest") 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 § 31-1-106?
A common citation format is "Montana Code Annotated § 31-1-106" (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 § 31-1-106 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.