Sec. 4.1. Interest rate

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For the purpose of General Obligations Law sections 5-501 and 5-524, and Banking Law sections 108(1), 173(1), 202(1), 235-b, 380-e, 454(6), 510-a(1) and 577(1), and except as otherwise provided by law, the maximum rate of interest to be charged, taken or received, upon a loan or forbearance of any money, goods, or things in action is as follows:
Effective July 1, 1968

7.25% per annum
Effective February 16, 1969

7.50% per annum
Effective August 15, 1973

8.00% per annum
Effective October 11, 1973

8.50% per annum
Effective December 8, 1978

9.50% per annum
Effective May 1, 1979

9.75% per annum
Effective August 1, 1979

10.00% per annum
Effective November 1, 1979

10.25% per annum
Effective February 1, 1980

10.50% per annum
Effective May 1, 1980

10.75% per annum
Effective August 1, 1980

11.00% per annum
Effective November 1, 1980

11.25% per annum
Effective December 1, 1980

16.00% per annum

                    
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