State by State Resources

State Collection Law Summary Compiled by CLLA Staff

M-N

MISSISSIPPI

Interest Rate
Legal: 8%
Judgment amount in contract, if no contract amount, court decides.

Statute of Limitations
Open Acct: 3
Written Contract: 3
UCC: 6
Domestic Judgment: 7
Foreign Judgment: 7(3 if resident)

MISSOURI

Interest Rate
Legal: 9%
Judgment: 9%

Statute of Limitations
Sale of Goods: 4
Open Acct: 5
Written Contract: 10 (money and property)
Domestic Judgment: 10 (revived every 10 years)
Foreign Judgment: 10 (revived every 10 years)

MONTANA

Interest Rate
Legal: 10%
Judgment: 10%

Statute of Limitations
Contract: Not in writing 5
Written Contract: 8
Domestic Judgment: 10(District Court)
Justice of Peace Judge: 10
Tort Claim (Subrogation) Prop and Personal: 3

NEBRASKA

Interest Rate
Legal: 12% per writter instrument or contract rate
Judgment: 2% or above the bond investment yield on the 28-week U.S.
Treasury Bill

Statute of Limitations
Open Acct: 4
Written Contract: 5
Domestic Judgment: 5 (renewable every 5)
Foreign Judgment: 5 (non-renewable)

NEVADA

Interest Rate
Contract rate always prevails.
If No Contract: Pre-Judgment: Statutory rate = 2% over prime as determined by 3 largest Nevada banks and adjusted every 6 months.
Judgment: same as pre-judgment

Statute of Limitations
Open Acct: 4
Written Contract: 6
Lease: 4
Domestic Judgment: 6
Foreign Judgment: 6