§ 6.1-330.53. Legal rate of interest; when legal rate implied
The legal rate of interest shall be an annual rate of six percent. Except as provided in subsection (b) of § 8.3A-112 and § 6.1-330.54, the legal rate of interest shall be implied where there is an obligation to pay interest and no express contract to pay interest at a specified rate.
(1987, c. 622; 2004, c. 646.)
Sections: Previous 6.1-330.49 6.1-330.50 6.1-330.51 6.1-330.52 6.1-330.53 6.1-330.54 6.1-330.55 6.1-330.56 6.1-330.57 6.1-330.58 6.1-330.59 6.1-330.60 6.1-330.61 6.1-330.62 6.1-330.63 NextLast modified: April 16, 2009