{"data":{"id":"us-il/815-ilcs-105-16","jurisdiction":"us-il","citation":"815 ILCS 105/16","heading":"","body":"In all computations of time, and of interest and discounts, a month shall be considered to mean a calendar month, and a year shall consist of twelve calendar months; and in computations of interest or discounts for any number of days less than a month, a day shall be considered a thirtieth part of a month and interest or discounts shall be computed for such fractional parts of a month upon the ratio which such number of days shall bear to thirty.","path":["CHAPTER 815 BUSINESS TRANSACTIONS","Promissory Note and Bank Holiday Act. (Part 1)"],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=2306\u0026ChapterID=67\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:47Z","sha256":"1499507db2e4387fada41ec5195c82409789f681a423c4d1d4887d4c70bf0b7a","source_id":"us-il","stale":false,"prev":"us-il/815-ilcs-105-15","next":"us-il/815-ilcs-115-0.01"},"notice":"GroundRules: Original legal text. Not legal advice."}