Usury

"Unless there is an express contract in writing fixing a different rate or a law or ordinance or resolution of a public body fixing a different rate on its obligations, interest is payable on all money at the rate of 10% a year after it becomes due on any instrument of writing, except a judgment; an account stated; money lent or due on any settlement of accounts from the date on which the balance is ascertained; and money received for the use of another person and detained from that person. (MCA 31-1-106)

Parties may agree in writing to the payment of any rate of interest that does not exceed the greater of 15% or an amount that is 6 percentage points per year above the prime rate published by the federal reserve system in its statistical release H.15 Selected Interest Rates for bank prime loans dated 3 business days prior to the execution of the agreement. Interest must be allowed according to the terms of the agreement.(MCA 31-1-107)

A regulated lender, except for a deferred deposit loan licensee or consumer loan licensee, is exempt from all limitations on the rate of interest that it may charge and is exempt from the operation and effect of all usury statutes. A finance operation that finances transactions between merchants is also exempt from usury limits. (MCA 31-1-112)"