There is a newer version of the New York Consolidated Laws
2022
2021
2020
2019
2018
Other previous versions
View our newest version here

2006 New York Code - How Interest Calculated.



 
    § 5-1301. How  interest  calculated.  Whenever,  in  any statute, act,
  deed, written or verbal contract, or in any public or private instrument
  whatever, any certain rate of interest is or shall be mentioned, and  no
  period  of  time  is  stated  for  which  such rate is to be calculated,
  interest shall be calculated at the rate mentioned, by the year, in  the
  same  manner as if the words "per annum" or "by the year" had been added
  to such rate.

Disclaimer: These codes may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.