Tennessee § 47-14-103 - Maximum effective rates generally.

§ 47-14-103. Maximum effective rates generally.

Except as otherwise expressly provided by this chapter or by other statutes, the maximum effective rates of interest are as follows: For all transactions in which other statutes fix a maximum effective rate of interest for particular categories of creditors, lenders, or transactions, the rate so fixed; For all written contracts, including obligations issued by or on behalf of the state of Tennessee, any county, municipality, or district in the state, or any agency, authority, branch, bureau, commission, corporation, department, or instrumentality thereof, signed by the party to be charged, and not subject to subdivision (1), the applicable formula rate; and For all other transactions, ten percent (10%) per annum. Acts 1979, ch. 203, § 2; 1980, ch. 601, § 26; 1983, ch. 464, § 2. Compiler's Notes. Former §§ 47-14-102 — 47-14-118 (Acts 1786, ch. 4, § 5; Acts 1803, ch. 6, § 1; Acts 1835-1836, ch. 50, §§ 1-5; Acts 1843-1844, ch. 181; Code 1858, §§ 1943-1955; Acts 1899, ch. 189, § 1; Acts 1901, ch. 60, § 1; Acts 1903, ch. 439, § 1; Shannon §§ 3491a1, 3492, 3493, 3493al, 3494-3504, 3504a1; Williams §§ 7300- 7303, 7305-7316; Code 1932, §§ 7300-7303, 7305-7316; T.C.A. (orig. ed.), 47-1602 — 47- 1618; Acts 1963, ch. 81, § 1(10-104(3)); Acts 1967, ch. 217, § 1; Acts 1969, ch. 61, § 1; Acts 1976, ch. 844, § 1) were repealed by Acts 1979, ch. 203, § 24 and present §§ 47-14-102 — 47-14-124 substituted therefor. Cross-References. Banks, interest on installment loans, § 45-2-1106 . Constitutional provisions on interest, Tenn. Const., art. XI, § 7. Credit unions, interest on loans, § 45-4-602 . Industrial loan and thrift companies, interest on loans, § 45-5-301 ; title 45, ch. 5, part 4. Interest rate charge allowed by a qualified commercial financing entity, § 67-4-2004 . Pawnbrokers, interest, § 45-6-210 . Savings and loan associations, loans, title 45, ch. 3, part 7. Textbooks. Tennessee Jurisprudence, 5 Tenn. Juris., Building and Loan Associations, § 15; 24 Tenn. Juris., Usury, §§ 3, 7. Law Reviews. Contracting Out of Process, Contracting Out of Corporate Accountability: An Argument Against Enforcement of Pre-Dispute Limits on Process (Meredith R. Miller), 75 Tenn. L. Rev. 365 (2008). Selected Tennessee Legislation of 1983 (N.L. Resener, J. A. Whitson, K. J. Miller), 50 Tenn. L. Rev. 785 (1983).