New York Laws
Article 13 - New York State Soldiers' and Sailors' Civil Relief Act
323-A - Maximum Rate of Interest.

§ 323-a. Maximum rate of interest. No obligation or liability bearing
interest at a rate in excess of six percent per year incurred by a
person in active military service in the armed forces of the United
States or in active military service of the organized militia of the
state before that person's entry into such service shall, during any
part of the period active military service, bear interest at a rate in
excess of six percent per year unless, in the opinion of the court, upon
application thereto by the obligee, the ability of such person in
military service to pay interest upon such obligation or liability at a
rate in excess of six percent per year is not materially affected by
reason of such service, in which case the court may make such order as
in its opinion may be just. As used in this section the term "interest"
includes service charges, renewal charges, fees and any other charges
(except bona fide insurance) with respect to such obligation or
liability.

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