State by State Resources
State Collection Law Summary Compiled by CLLA Staff
O-P
OHIO
Interest Rate(1996)
Legal: 1% above short rate pursuant to Ohio
Revised code 134303 (for 2005 rate is 5%)
Statute of Limitations
Open Account: 6
Sales Contract (UCC2-725)
Written Contract: 15
OKLAHOMA
Interest Rate
Legal: 6% unless specified in contract
Judgment: 5.63% for 2003 (4% over U.S.
Treasury Bill Rate of previous year)
Statute of Limitations
Sale of Goods Governed by UCC: 5
Open Acct: 3
Written Contract: 5
Domestic Judgment: 5
Foreign Judgment: 3
OREGON
Interest Rate
Statutory + Judgment: 9% simple
interest per annum (unless specified
by contract)
Statute of Limitations
Open Acct: 6
Sales of Goods: 6 (4 years UCC transaction)
Written Contract: 6
Domestic Judgment: 10(renewable at 10)
Foreign Judgment: 10
PENNSYLVANIA
Interest Rate
Legal: 6%
Judgment: 6%
Statute of Limitations
Open Acct: 4
Written Contract: 4
Domestic Judgment 5 (writ of revival within 5 years)
Foreign Judgment: 4
PUERTO RICO
Interest Rate
Legal: 6%, charges every 6 months
(01/01/2005-06/30/2005)
Judgment regulated by the
Commissioner of the Board of
Financial Institutions every 6 months
Statute of Limitations
Open Acct: 3
Merchandise Open Acct: 3
Written Contract: 15
Mortgage: 20
Domestic Judgment: 15
Foreign Judgment: 15

Address
1201 West Peachtree Street, Suite 2300, Atlanta, GA 30309
latest news