Kansas Statutes > Chapter 16 > Article 2 – Interest and Charges


§ 16-201	Legal rate of interest; prejudgment interest rate in civil tort actions
§ 16-204	Interest on judgments
§ 16-205	Interest rates or charges; contract rates continue until payment in full; judgments; excess rates and charges void
§ 16-207	Contract rate; penalties for prepayment of certain loans, recording fees; contracting for interest in excess of limitation, penalties, attorney fees; loans excluded
§ 16-207a	State override of federal preemption
§ 16-207b	Contract rate; exceptions
§ 16-207d	Rules and regulations; loans secured by real estate; adjustable loans
§ 16-214	Interest rate on advance made for purchase or carrying of securities; advance not subject to uniform consumer credit code

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Terms Used In Kansas Statutes > Chapter 16 > Article 2 - Interest and Charges

Amortization: Paying off a loan by regular installments.
Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. ^{Source: FDIC}
Contract: A legal written agreement that becomes binding when signed.
Counterclaim: A claim that a defendant makes against a plaintiff.
Deed: The legal instrument used to transfer title in real property from one person to another.
Deed: is a pplied to an instrument conveying lands but does not imply a sealed instrument. See Kansas Statutes 77-201
Forbearance: A means of handling a delinquent loan. A
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}
Month: means a calendar month, unless otherwise expressed. See Kansas Statutes 77-201
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
Usury: Charging an illegally high interest rate on a loan. ^{Source: OCC}