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Rhode Island Promissory Note PDF
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Rhode Island at a glance: Usury Limit: 21% per year · Governing Law: R.I. Gen. Laws § 6-26-2
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Overview
Promissory Notes in Rhode Island
Rhode Island restricts contract interest rates to a maximum of 21% per year on all written loans.
Key Facts
Rhode Island Promissory Note — Quick Reference
| Requirement | Rhode Island Rule |
|---|---|
| Usury Limit | 21% per year |
| Governing Law | R.I. Gen. Laws § 6-26-2 |
Legal Requirements
Rhode Island Legal Requirements
- The contract rate of interest cannot exceed 21% per year.
Governing Laws
Rhode Island Governing Laws
Read the full text of these laws at Cornell Law School's Rhode Island legal resources or your state legislature's official website.
Questions & Answers
Rhode Island Promissory Note — Frequently Asked Questions
What is the maximum interest in Rhode Island?
The maximum interest rate is 21% per year.