Code of Virginia - Title 6.1 Banking And Finance - Section 6.1-274 Limitation of interest in bankruptcy

§ 6.1-274. Limitation of interest in bankruptcy

Any loan made under the provisions of this chapter which is properly scheduled in a bankruptcy proceeding shall bear interest against any party to the loan from ninety days after the date of adjudication, whether there is an ultimate discharge or an extension, if any interest be allowable at all, at six percent per year only; but this limitation shall not apply in the following instances: to a comaker not currently in bankruptcy when the bankrupt is not entitled to a discharge, or the particular obligation is not dischargeable under the provisions of the Bankruptcy Act.

(Code 1950, § 6-304; 1966, c. 584; 1987, c. 410.)

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Last modified: April 2, 2009