Interest rate; no written contract

The rate of interest, in the absence of a written contract fixing a different rate, shall be not more than fifteen percent annually in the following cases: A. on money due by contract; B. on money received to the use of another and retained without the owner's consent expressed or implied; and C. on money due upon the settlement of matured accounts from the day the balance is ascertained. History: 1978 Comp., § 56-8-3, enacted by Laws 1983, ch. 254, § 1.