On any loan in excess of ten thousand dollars made to any person, corporation, partnership or association engaged in commercial, manufacturing, industrial or nonconsumer pursuits the loan agreement may provide for the interest to be either paid currently or to accrue, and, if such interest is to accrue, such accrued interest may be added to the principal of the debt on which interest may be charged and collected.
(P.A. 83-225.)
Structure Connecticut General Statutes
Section 37-1. - Legal rate. Accrual as addition to debt.
Section 37-1a. - Payment of interest on commercial loans in excess of ten thousand dollars.
Section 37-2. - No recovery after payment.
Section 37-3. - Rate recoverable as damages.
Section 37-3a. - Rate recoverable as damages. Rate on debt arising out of hospital services.
Section 37-3b. - Rate of interest recoverable in negligence actions.
Section 37-3c. - Rate of interest recoverable in condemnation cases.
Section 37-4. - Loans at greater rate than twelve per cent prohibited.
Section 37-5. - Notes not to be accepted for greater amounts than loaned.
Section 37-6. - Certain expenses not to be charged to the borrower.
Section 37-8. - Actions not to be brought on prohibited loans.