Interest rate on a bill, statement, or invoice regulated.
be amended to read as follows:
Unless there is an express contract in writing fixing a different rate
or the interest rate
clearly appears on the bill, statement, or invoice
, interest is payable on all moneys at the Category
F rate of interest as established in § 54-3-16 after they become due on any instrument of writing,
and on moneys lent, or due on any settlement of accounts, from the day on which the balance is
ascertained, and on moneys received to the use of another and detained from that other.
interest rate appearing on a bill, statement, or invoice may not exceed eighteen percent.