Rhode Island § 6-26-11 - Interest and Usury
Full text of Rhode Island Rhode Island General Laws § 6-26-11 — Interest and Usury, with citation guidance and answers to common questions.
§ 6-26-11. Interest and Usury
R.I. Gen. Laws § 6-26-11
§ 6-26-11. Medical debt interest cap.
(a) For purposes of this section “medical debt” means an obligation of a consumer to pay an amount for the receipt of healthcare services as defined by § 27-81-3, products, or devices, owed to a healthcare facility or a healthcare professional as defined by § 27-81-3.
(b) Interest on medical debt shall be limited to the rate of interest equal to the weekly average one-year constant maturity Treasury yield, but not less than one and a half percent per annum (1.5% p.a.) nor more than four percent per annum (4% p.a.) as published by the Board of Governors of the Federal Reserve System, for the calendar week preceding the date when the consumer was first provided with a bill.
(c) The rate of interest provided in subsection (b) of this section shall only be applied to new debt incurred after June 26, 2025.
History of Section.
P.L. 2025, ch. 302, § 1, effective June 26, 2025; P.L. 2025, ch. 303, § 1, effective
June 26, 2025.
Source: official Rhode Island text · Last verified 2026-08-27
Frequently Asked Questions About Rhode Island § 6-26-11
What does Rhode Island General Laws § 6-26-11 cover?
Section 6-26-11 ("Interest and Usury") is part of the Rhode Island General Laws, the codified statutory law of Rhode Island. 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 Rhode Island § 6-26-11?
A common citation format is "Rhode Island General Laws § 6-26-11" (Rhode Island). 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 Rhode Island law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Rhode Island official source linked on this page or consult a licensed Rhode Island attorney.
How does Rhode Island § 6-26-11 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Rhode Island 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 Rhode Island.