MontanaState Collection Laws

STATE INTEREST RATES AND USURY LIMITS:

• Legal Rate: 10%, however, Mont. Code Ann. § 31-1-106, provides some exceptions

• Contract Rate: Not more than 15% or 6 percentage points per year above the prime rate published by the Federal Reserve System

• Judgment Rate: 10%

• Corporate Rate: No set rate

 

LEGAL AGE:

• Age of Majority: 18, 21 for alcohol

• Emancipation:  When parental authority ceases, marriage or by appointment by court of law

• Contracts: Contracts made by minors may be disaffirmed at age 18. A minor may contract for higher education costs.

 

DEBT RESPONSIBILITY: DOCTRINE OF NECESSARIES

• Spouses are not liable for each others’ debts unless those expenses are for necessities of the family.

 

STATUTE OF LIMITATIONS FOR CIVIL ACTIONS:

• Contracts: Oral, 5 years; Written, 8 years

•Judgments: 10 years

 

This information is not to be construed as legal advice. Legal advice must be tailored to the specific circumstances of each case. Although we attempt to provide up-to-date information, laws and regulations often change. We make no claims, promises, or guarantees about the accuracy or completeness of this document. For legal advice please contact an attorney. 

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