31-1-109. When interest becomes part of principal.
56 words·~1 min read·
/mt/title-31/chapter-1/part-1/31-1-109·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
31-1-109 . When interest becomes part of principal. The parties may, in any contract in writing whereby any debt is secured to be paid, agree that, if the interest on such debt is not punctually paid, it shall become a part of the principal and thereafter bear the same rate of interest as the principal debt.