North Dakota Legal Rates of Interest Initiative (1938)

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The North Dakota Legal Rates of Interests Initiative was on the June 28, 1938 ballot in North Dakota as an initiated state statute, where it was approved.[1] The measure reduced the legal rates of interest to three percent on indebtedness instead of four percent on borrowing and seven percent on contracts.[2]

Election results

North Dakota Legal Interest Rates Initiative (1938)
ResultVotesPercentage
Approveda Yes 458,081 79.08%
No121,20620.92%

Election results via: Legislative Manual, Official Vote of North Dakota Primary Election, 1938

Text of measure

Summary

The measure reduced the legal rates of interest to three percent on indebtedness instead of four percent on borrowing and seven percent on contracts.[2]

See also

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