Interest (definition)
| The term interest is used to describe the cost of using money, a right, share, or title in property. Source: OCC | ||
| State Law | ||
| Arizona | ||
| means a governance interest or a transferable interest, including a share or membership in a corporation Arizona Laws 29-2102 | ||
| means interest from the effective date of the corporate action until the date of payment at the average rate currently paid by the corporation on its principal bank loans or, if none, at a rate that is fair and equitable under the circumstances Arizona Laws 10-1301 | ||
| means the assumed actuarial investment earnings rate approved by the board Arizona Laws 38-711 | ||
| Florida | ||
| means the cost of obtaining a consumer finance loan and includes any profit or advantage of any kind whatsoever that a lender may charge, contract for, collect, receive, or in anywise obtain, including by means of any collateral sale, purchase, or agreement, as a condition for a consumer finance loan Florida Statutes 516.01 | ||
| means :
(a) A share in a business corporation;
(b) A membership in a nonprofit corporation;
(c) A partnership interest in a general partnership;
(d) A partnership interest in a limited partnership;
(e) A membership interest in a limited liability company;
(f) A share or beneficial interest in a real estate investment trust;
(g) A member’s interest in a limited cooperative association;
(h) A beneficial interest in a statutory trust, business trust, or common law business trust; or
(i) A governance interest or distributional interest in another entity Florida Statutes 605.0102 |
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| means :
(a) A share in a corporation for profit;
(b) A membership in a nonprofit corporation;
(c) A partnership interest in a general partnership, including a limited liability partnership;
(d) A partnership interest in a limited partnership, including a limited liability limited partnership;
(e) A membership interest in a limited liability company;
(f) A share or beneficial interest in a real estate investment trust;
(g) A member’s interest in a limited cooperative association;
(h) A beneficial interest in a statutory trust, business trust, or common law business trust; or
(i) A governance interest or distributional interest in another entity Florida Statutes 607.01401 |
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| Hawaii | ||
| means all charges payable directly or indirectly by a borrower to a licensee as a condition to a loan or an application for a loan, however denominated Hawaii Revised Statutes 480J-1 | ||
| means interest from the effective date of the corporate action until the date of payment, at the average rate currently paid by the corporation on its principal bank loans or, if none, at a rate that is fair and equitable under all the circumstances Hawaii Revised Statutes 414-341 | ||
| Idaho | ||
| means :
Idaho Code 30-21-102 |
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| Indiana | ||
| means interest from the effective date of the corporate action until the date of payment, at the average rate currently paid by the corporation on its principal bank loans or, if none, at a rate that is fair and equitable under all the circumstances Indiana Code 23-1-44-4 | ||
| means the rate of interest specified by rule by the board of trustees of the Indiana public retirement system established by Indiana Code 5-10-5.5-1 | ||
| Iowa | ||
| means a voting interest or other interest in a cooperative as described in the cooperative’s articles of association Iowa Code 501.101 | ||
| means either or both of the following rights under the organic law governing an unincorporated entity: | ||
| Kansas | ||
| means interest on indebtedness attributed to Kansas and incurred in the ordinary course of the active conduct of any business and interest on indebtedness incurred that is secured by a single family residence;
(2) “qualified agricultural real estate loans” means loans made on real property that is substantially used for the production of one or more agricultural products and that: (A) Have maturities of not less than five years and not more than 40 years; (B) are secured by a first lien interest in real estate, except that the loans may be secured by a second lien interest if the institution also holds the first lien on the property; and (C) have an outstanding loan balance when made that is less than 85% of the appraised value of the real estate, except that a loan for which private mortgage insurance is obtained may exceed 85% of the appraised value of the real estate to the extent the loan amount in excess of 85% is covered by such insurance; (3) “single family residence” means a residence that: (A) Is the principal residence of its occupant; (B) is located in Kansas, in a rural area as defined by the United States department of agriculture that is not within a metropolitan statistical area and has a population of 2,500 or less as determined by the most recent census for which data is available; and (C) is purchased or improved with the proceeds of the loan; (4) “net interest income received from qualified agricultural real estate loans attributed to Kansas” means the product of the ratio of the interest income earned on qualified agricultural real estate loans over total interest income earned, in relation to the net income of the national banking association, state bank, trust company or savings and loan association without regard to this deduction; and (5) “net interest income received from single family residence loans attributed to Kansas” means the product of the ratio of the interest income earned on single family residence loans over total interest income earned, in relation to the net income of the national banking association, state bank, trust company or savings and loan association without regard to this deduction Kansas Statutes 79-1109 |
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| means : (1) Having any type of ownership in the real estate involved in the transaction; or (2) an officer, member, partner or shareholder of any entity that owns such real estate excluding an ownership interest of less than 5% in a publicly traded entity Kansas Statutes 58-3035 | ||
| means :
(1) A governance interest in an unincorporated entity; (2) a transferable interest in an unincorporated entity; or (3) a share or membership in a corporation Kansas Statutes 17-78,102 |
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| Kentucky | ||
| means all or part of a legal equitable claim to a right in real property which shall include both possessory and nonpossessory interests Kentucky Statutes 224.80-100 | ||
| means interest from the effective date of the corporate action until the date of payment, at the average rate currently paid by the corporation on its principal bank loans or, if none, at a rate that is fair and equitable under all the circumstances Kentucky Statutes 271B.13-010 | ||
| Louisiana | ||
| means a member’s rights in a limited liability company, collectively, including the member’s share of the profits and losses of the limited liability company, the right to receive distributions of the limited liability company’s assets, and any right to vote or participate in management Louisiana Revised Statutes 12:1301 | ||
| Maine | ||
| includes , but is not limited to, an interest in a contract for deed, a land installment contract, a bond for deed, a purchase agreement, an option to purchase or a lease Maine Revised Statutes Title 32 Sec. 6192 | ||
| means interest from the effective date of a corporate action until the date of payment, at the rate of interest on judgments in this State on the effective date of the corporate action Maine Revised Statutes Title 13-C Sec. 1301 | ||
| means : | ||
| Michigan | ||
| means a member’s rights in the limited liability company, including, but not limited to, any right to receive distributions of the limited liability company’s assets and any right to vote or participate in management Michigan Laws 450.4102 | ||
| Missouri | ||
| interest at such rate as shall be determined and prescribed from time to time by a board Missouri Laws 104.010 | ||
| Montana | ||
| means , with respect to an issue or matter, multiple parties that have a similar point of view or that are likely to be affected in a similar manner Montana Code 2-5-103 | ||
| means :
(a)a governance interest in an unincorporated entity; (b)a transferable interest in an unincorporated entity; or (c)a share or membership in a corporation Montana Code 35-7-102 |
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| New Hampshire | ||
| includes , without limitation, any fee simple interest, leasehold interest for a term of more than 5 years, life estate and time sharing interest; XVI New Hampshire Revised Statutes 356-A:1 |
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| New York | ||
| means a direct or indirect pecuniary or material benefit accruing to a municipal officer or employee as the result of a contract with the municipality which such officer or employee serves N.Y. General Municipal Law 800 | ||
| means that part of the entire amount agreed to be paid for the purchase made or loan advanced which exceeds the aggregate of the cash value of such purchases or loans and is deemed to include service charges, time-price charges and per check charges N.Y. General Business Law 717 | ||
| Rhode Island | ||
| means a member’s rights in the limited-liability company, collectively, including the member’s share of the profits and losses of the limited-liability company, the right to receive distributions of the limited-liability company’s assets, and any right to vote or participate in management of the limited-liability company Rhode Island General Laws 7-16-2 | ||
| means :
(i) A share in a business corporation; (ii) A membership in a nonprofit corporation; (iii) A partnership interest in a general partnership; (iv) A partnership interest in a limited partnership; (v) A membership interest in a limited liability company; (vi) A share in a general cooperative association; (vii) A member’s interest in a limited cooperative association; (viii) A membership in an unincorporated nonprofit association; (ix) A beneficial interest in a statutory trust, business trust, or common-law business trust; or (x) A governance interest or distributional interest in any other type of unincorporated entity Rhode Island General Laws 7-12.1-1101, Rhode Island General Laws 7-13.1-1101 |
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| Tennessee | ||
| means compensation for the use, detention or forbearance to collect money over a period of time, and does not include compensation for other purposes, including, but not limited to:
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| means either or both of the following rights under the organic law of an unincorporated entity:
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| means either or both of the following rights under the organic law of an unincorporated entity:
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| means interest from the effective date of the action referred to in § Tennessee Code 43-38-801 | ||
| means interest from the effective date of the action referred to in § Tennessee Code 48-231-101 | ||
| means interest from the effective date of the corporate action that gave rise to the shareholder’s right to dissent until the date of payment, at the average auction rate paid on United States treasury bills with a maturity of six (6) months (or the closest maturity thereto) as of the auction date for such treasury bills closest to such effective date Tennessee Code 48-23-101 | ||
| means that part of the net income, retained earnings, or surplus of an association that is payable to or credited to holders of deposit accounts Tennessee Code 45-3-104 | ||
| means :
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| Utah | ||
| includes a membership agreement, sale, lease, deed, license, or right-to-use agreement Utah Code 57-19-2 | ||
| includes service charges, renewal charges, fees, or any other charges in respect to any obligation or liability Utah Code 39A-6-101 | ||
| Virginia | ||
| means a member’s share of the profits and the losses of the limited liability company and the right to receive distributions of the limited liability company’s assets Virginia Code 13.1-1002 | ||
| means all charges payable directly or indirectly by a borrower to a licensee as a condition to a loan, including fees, service charges, and renewal charges, and any ancillary product sold in connection with a loan, but does not include the monthly maintenance fees, deposit item return fees, late charges, or reasonable costs of repossession and sale authorized under § 6 Virginia Code 6.2-2200 | ||
| means all charges payable directly or indirectly by a borrower to a licensee as a condition to a loan, including fees, service charges, and renewal charges, and any ancillary product sold in connection with a loan, but does not include the monthly maintenance fees, deposit item return fees, or late charges authorized under § 6 Virginia Code 6.2-1800 | ||
| means either or both of the following rights under the organic law governing an unincorporated entity: | ||
| means either or both of the following rights under the organic law of a foreign or domestic unincorporated entity: | ||
| means interest from the date the corporate action becomes effective until the date of payment, at the average rate currently paid by the corporation on its principal bank loans or, if none, at a rate that is fair and equitable under all the circumstances Virginia Code 13.1-729 | ||
| Washington | ||
| means interest from the effective date of the corporate action until the date of payment, at the average rate currently paid by the corporation on its principal bank loans or, if none, at a rate that is fair and equitable under all the circumstances Washington Code 23B.13.010 | ||
| means :
Washington Code 23.95.105 |
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| West Virginia | ||
| means interest imposed pursuant to sections seventeen and seventeen-a, article ten of this chapter West Virginia Code 11-10D-3 | ||