§ 6-26-8 - Damages and interest on inland protested bill. - Rhode Island Statutes

SECTION 6-26-8

   § 6-26-8  Damages and interest on inlandprotested bill. – Whenever any inland bill of exchange shall be drawn or endorsed within thisstate for the payment of any sum of money outside this state, and the billshall be protested for nonacceptance or nonpayment, the drawer or endorsershall be subject to the payment of five percent (5%) damages on the bill andcharges of protest, and the bill shall carry an interest of six percent (6%)per annum from the date of the protest.