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2004 Florida Statutes
SECTION 125
Compounding of interest.
Compounding of interest.
687.125 Compounding of interest.--Interest or finance charges on any loan or extension of credit secured by a mortgage which contains a provision for the compounding of interest may be compounded provided the total amount of interest received by the lender as a result of such compounding, including interest upon interest, produces an effective yield which does not exceed any interest rate limitation imposed by applicable law.
History.--s. 47, ch. 82-214.