State Codes and Statutes
Statutes > Tennessee > Title-12 > Chapter-4 > Part-7 > 12-4-70412-4-704. Interest.
(a) Interest shall accrue and be charged on payments overdue under § 12-4-703 at one and one-half percent (1½%) per month beginning on the day after payment is due.
(b) Interest which is unpaid at the end of each sixty-day period or at the end of any specified period provided by contract shall be added to the principal amount of the debt and shall thereafter accumulate interest.
[Acts 1985, ch. 57, § 1.]
