KRS 355.3-112: Interest.

(1) Unless otherwise provided in the instrument:

(a) An instrument is not payable with interest; and

(b) Interest on an interest -bearing instrument is payable from the date of the

instrument.

(2) Interest may be stated in an instrument as a fixed or variable amount of money or it

may be expressed as a fixed or variable rate or rates. The amount or rate of interest

may be stated or described in the instrument in any manner and may require

reference to information not contained in the instrument. If an instrument provides

for interest, but the amount of interes t payable cannot be ascertained from the

description, interest is payable at the judgment rate in effect at the place of payment

of the instrument and at the time interest first accrues.