Vermont § 49 - Computation of interest
Full text of Vermont Vermont Statutes Online § 49 — Computation of interest, with citation guidance and answers to common questions.
§ 49. Computation of interest
- When a note, bill, or other similar obligation is payable on demand or at a specified
time, with interest annually, the annual interest that remains unpaid shall bear simple
interest from the time it becomes due to the time of final settlement; but if in a
year, reckoning from the time the annual interest began to accrue, payments are made,
the amount of those payments at the end of that year, with interest thereon from the
time of payment, shall be applied: first, to liquidate the simple interest accrued
from the unpaid annual interest; second, to liquidate the annual interest due; and
third, to extinguish the principal. (Added 1967, No. 377 (Adj
Frequently Asked Questions About Vermont § 49
What does Vermont Statutes Online § 49 cover?
Section 49 ("Computation of interest") is part of the Vermont Statutes Online, the codified statutory law of Vermont. 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 Vermont § 49?
A common citation format is "Vermont Statutes Online § 49" (Vermont). 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 Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 49 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont 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 Vermont.