{"data":{"id":"us-nm/56-8-3","jurisdiction":"us-nm","citation":"56-8-3","heading":"Interest rate; no written contract.","body":"The rate of interest, in the absence of a written contract fixing a different rate, shall be not more than fifteen percent annually in the following cases:\nA. on money due by contract;\nB. on money received to the use of another and retained without the owner's consent expressed or implied; and\nC. on money due upon the settlement of matured accounts from the day the balance is ascertained.","path":["Chapter 56 - Commercial Instruments and Transactions","ARTICLE 8 Money, Interest and Usury"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18559/index.do","current_through":"2024-04-26","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"3ed9ec85d7bbce4aecaace4ee3065f1cff02a99d620254fce03dee415b1c1dda","source_id":"us-nm","stale":false,"prev":"us-nm/56-8-2","next":"us-nm/56-8-4"},"notice":"GroundRules: Original legal text. Not legal advice."}