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
• 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.