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(Draft No. 8.1 H.482) 3/22/2018 DPH08:43 AM1 2Page 1 of 17TO THE HOUSE OF REPRESENTATIVES: The Committee on Commerce and Economic Development to which was3referred House Bill No. 482 entitled An act
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Legal rates refer to the interest rates set by law that apply to certain types of transactions, typically in relation to loans, judgments, or other financial obligations.
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The purpose of legal rates is to establish a fair and consistent benchmark for interest rates and related financial charges, ensuring transparency and regulating maximum loan costs.
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