Title 47 — Property
52 chapters · 670 sections in this title.
N.D.C.C. § 47-14-01 Loan of money defined
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A loan of money is a contract by which one delivers a sum of money to another and the latter agrees to return at a future time a sum equivalent to that which the person borrowed. A loan for mere use is governed by chapter 47-12.
N.D.C.C. § 47-14-02 Repayment in current funds
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A borrower of money must pay the amount due in such money as is current at the time when the loan becomes due, whether such money is worth more or less than the actual money lent.
N.D.C.C. § 47-14-03 Loan presumes interest
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Whenever a loan of money is made, it is presumed to be made upon interest unless it is expressly stipulated otherwise in writing at the time it is made.
N.D.C.C. § 47-14-04 Interest defined
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Interest is the compensation allowed for the use, or forbearance, or detention of money, or its equivalent.
N.D.C.C. § 47-14-05 Legal rate of interest - Interest after maturity
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Interest for any legal indebtedness must be at the rate of six percent per annum unless a different rate not to exceed the rate specified in section 47-14-09 is contracted for in writing. Unless otherwise agreed by the parties in writing, all contracts must bear the same rate of …
N.D.C.C. § 47-14-06 Annual rate when not specified
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When a rate of interest is prescribed by a law or contract without specifying the period of time by which such rate is to be calculated, it shall be deemed an annual rate.
N.D.C.C. § 47-14-07 Interest rate - Before and after breach
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Any legal rate of interest stipulated by a contract remains chargeable after a breach until the contract is superseded by a verdict or other new obligation.
N.D.C.C. § 47-14-08 Interest on loans may be deducted in advance - Limitation
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The interest which would become due at the end of the term for which a loan is made, not exceeding one year's interest in all, may be deducted from the loan in advance if the parties thus agree.
N.D.C.C. § 47-14-09 Usury - Definition - Maximum contract rate - Prohibition - Exclusions
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1. Except as otherwise provided by the laws of this state, a person, either directly or indirectly, may not take or receive, or agree to take or receive, in money, goods, or things in action, or in any other way, any greater sum or greater value for the loan or forbearance of mon…
N.D.C.C. § 47-14-10 Civil liability for usury - Forfeiture of interest
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The taking, receiving, reserving, or charging of a rate of interest greater than is allowed by the laws of this state relative to usury shall be deemed a forfeiture of the entire interest which the note, bill, or other evidence of debt carries with it or which has been agreed to …
N.D.C.C. § 47-14-11 Criminal penalty for usury
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Any person who shall take, receive, reserve, or charge a usurious rate of interest, in addition to being liable for the penalties and forfeitures specified in section 47-14-10, shall be guilty of a class B misdemeanor.