Tennessee § 47-14-107 - Computation of interest — Installment loans.
Full text of Tennessee Tennessee Code Annotated § 47-14-107 — Computation of interest — Installment loans., with citation guidance and answers to common questions.
§ 47-14-107. Computation of interest — Installment loans.
This chapter does not limit or restrict the manner or method of contracting for interest, whether by way of add-on, discount, or otherwise, so long as the maximum effective rate of interest does not exceed that authorized by statute. For installment loans, the maximum effective rate of interest shall: Be determined in accordance with the actuarial method; Be calculated, in the case of a precomputed loan, on the assumption that all scheduled payments will be made as contracted; and Not be affected by the prepayment of the loan, in whole or in part. Acts 1979, ch. 203, § 6. 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1618; Acts 1963, ch. 81, § 1(10-104(3)); Acts 1967, ch. 217, § 1; Acts 1969, ch. 61, § 1; Acts 1976, ch. 844, § 1) were repealed by Acts 1979, ch. 203, § 24 and present §§ 47-14-102 — 47-14-124 substituted therefor. Textbooks. Tennessee Jurisprudence, 15 Tenn. Juris., Insurance, §§ 87, 103, 131; 24 Tenn. Juris., Usury, § 7. Cited: Tyber v. Great Cent. Ins. Co., 572 F.2d 562, 1978 U.S. App. LEXIS 11907 (6th Cir. Tenn. 1978).
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 47-14-107
What does Tennessee Code Annotated § 47-14-107 cover?
Section 47-14-107 ("Computation of interest — Installment loans.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. 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 Tennessee § 47-14-107?
A common citation format is "Tennessee Code Annotated § 47-14-107" (Tennessee). 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 Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 47-14-107 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee 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 Tennessee.