Florida Statutes Title XXXIII. Regulation of Trade, Commerce, Investments, and Solicitations § 516.035. Rate of interest upon default

Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.

In the event that any balance remains unpaid at the expiration of the scheduled maturity date of a loan, licensees may continue to charge interest on the unpaid balance at the rate provided for in s. 516.031(1) for a period not to exceed 12 months.  Thereafter, the interest shall not exceed the permissible rate of interest provided by chapter 687.  When advances are made pursuant to a line of credit, a licensee may charge interest on the unpaid balance at the rate provided for in s. 516.031(1) for the period a balance remains unpaid.

Cite this article: FindLaw.com - Florida Statutes Title XXXIII. Regulation of Trade, Commerce, Investments, and Solicitations § 516.035. Rate of interest upon default - last updated January 01, 2019 | https://codes.findlaw.com/fl/title-xxxiii-regulation-of-trade-commerce-investments-and-solicitations/fl-st-sect-516-035.html


FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

Copied to clipboard