Table Showing What Interest May Be Charged in the Different States and the Effect of Charging Usury.

State

Interest Chargeable By Contract

Penalty for Usury

Alabama .............

8%

Forfeiture of all Interest.

Alaska .................

10%

Arizona ..................

No limit

None.

Arkansas ..............

10%

Forfeiture of debt.

California ..............

No limit

None.

Colorado ...............

No limit

None.

Connecticut ............

15%

Forfeiture of debt and interest.

Delaware ..............

6%

Forfeiture of debt and interest.

District of Columbia..

10%

Forfeiture of all interest.

Florida ..................

10%

Forfeiture of all interest.

Georgia ..............

8%

Forfeiture of excess interest.

Idaho .................

12%

Forfeiture of interest and 10% annually of principal.

Illinois .................

7%

Forfeiture of all interest.

Indiana ...............

8%

Forfeiture of all interest over 6%.

Iowa ....................

8%

Forfeiture of all interest, 8% of principal and costs of suit.

Kansas ....................

10%

Forfeiture of double the usury.

Kentucky .................

8%

Forfeiture of excess interest.

State

Interest

Chargeable

By Contract

Penalty for Usury

Louisiana.........................

8%

Forfeiture of all interest.

Maine.........................

No limit

None except for loans less than $200 secured by chattel mortgage.

Maryland.........................

6%

Forfeiture of all interest.

Massachusetts...................

No limit

On less than $1,000 only 18% recoverable.

Michigan.........................

7%

Forfeiture of all interest.

Minnesota.........................

10%

Forfeiture of debt and interest.

Mississippi.........................

10%

Forfeiture of all interest.

Missouri.........................

8%

Forfeiture of excess interest.

Montana.........................

No limit

None.

Nebraska.........................

10%

Forfeiture of all interest.

Nevada

No limit

None.

New Hampshire.................

6%

Forfeiture 3 times excess interest.

New Jersey.........................

6%

Forfeiture of all interest.

New Mexico.......................

12%

Forfeiture double the usury.

New York.........................

6%

Forfeiture of debt and interest.

North Carolina.................

6%

Forfeiture of all interest.

North Dakota....................

12%

Forfeiture of all interest.

Ohio.........................

8%

Forfeiture of excess over 6%.

State

Interest Chargeable By Contract

Penalty of Usury

Oklahoma.........................

10%

Forfeiture of all interest-

Oregon.........................

10%

Forfeiture of debt and interest.

Pennsylvania.....................

6%

Forfeiture of excess interest.

Rhode Island.....................

No limit

None.

South Carolina...................

8%

Forfeiture of all interest.

South Dakota.....................

12%

Forfeiture of all interest.

Tennessee.........................

6%

Forfeiture of excess interest.

Texas.........................

10%

Forfeiture of all interest.

Utah.........................

12%

Forfeiture of debt and interest.

Vermont.........................

6%

Forfeiture of excess interest.

Virginia........................

6%

Forfeiture of all interest.

Washington.....................

12%

Forfeiture of all interest.

West Virginia.....................

6%

Forfeiture of excess interest.

Wisconsin....................

10%

Forfeiture of all interest.

Wyoming....................

12%

Forfeiture of all interest.