Kansas Statutes 9-2323. No maximum interest rate or charge
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Terms Used In Kansas Statutes 9-2323
- Fiduciary: A trustee, executor, or administrator.
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Statute: A law passed by a legislature.
- Usury: Charging an illegally high interest rate on a loan. Source: OCC
Notwithstanding the provisions ofchapter 16 of the Kansas Statutes Annotated, and amendments thereto, to the contrary, or any other statute, there is no maximum interest rate or charge or usury rate restriction between or among a fiduciary financial institution and a fidfin trust if the interest rate or charge is established by written agreement. A “written agreement” means a document in writing, whether in physical or electronic form, in which the parties have demonstrated their agreement to the terms and conditions of an extension of credit, including the rate of interest.