Utah § 15-1-1 - Interest rates -- Contracted rate -- Legal rate.
Full text of Utah Utah Code § 15-1-1 — Interest rates -- Contracted rate -- Legal rate., with citation guidance and answers to common questions.
§ 15-1-1. Interest rates -- Contracted rate -- Legal rate.
15-1-1. Interest rates -- Contracted rate -- Legal rate.
| (1) | The parties to a lawful written, verbal, or implied contract may agree upon any rate of interest for the contract, including a contract for services, a loan or forbearance of any money, goods, or services, or a claim for breach of contract. |
| (2) | Unless the parties to a lawful written, verbal, or implied contract expressly specify a different rate of interest, the legal rate of interest for the contract, including a contract for services, a loan or forbearance of any money, goods, or services, or a claim for breach of contract is 10% per annum. |
| (3) | Nothing in this section may be construed in any way to affect any penalty or interest charge that by law applies to delinquent or other taxes or to any contract or obligations made before May 14, 1981. |
Amended by Chapter 437, 2019 General Session
Source: official Utah text · Last verified 2026-08-27
Frequently Asked Questions About Utah § 15-1-1
What does Utah Code § 15-1-1 cover?
Section 15-1-1 ("Interest rates -- Contracted rate -- Legal rate.") is part of the Utah Code, the codified statutory law of Utah. 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 Utah § 15-1-1?
A common citation format is "Utah Code § 15-1-1" (Utah). 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 Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 15-1-1 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah 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 Utah.