INTEREST RATE - Legal: 6% or 5 points above the
Fed. discount rate Judgment 5 points above the Federal discount rate
or 10% per annum whichever is less
STATUTE OF LIMITATIONS (IN YEARS) - Open Acct: 3 -
Written Contract 5 (partial payment stops the statute from running) -
Sale of Goods: (UCC-2) - 4 - Domestic Judgment 10 - Renewable -
Foreign Judgment 10
BAD CHECK LAWS (CIVIL PENALTY) - Twice the amount
of check - prior to double charge - can start out with $15 charge per
NSF check after 30 days.
GENERAL GARNISHMENT EXEMPTIONS - $500 head of
family; $200 single. Includes personal property except clothing.
COLLECTION AGENCY BOND & LICENSE - Bond:
$5000/$1500 Branch - License: Yes - Fee: $125 -$5 each employee