Sec. 11.  USURY; RATE OF INTEREST IN ABSENCE OF LEGISLATION.  The Legislature shall have authority to define interest and fix maximum rates of interest; provided, however, in the absence of legislation fixing maximum rates of interest all contracts for a greater rate of interest than ten per centum (10%) per annum shall be deemed usurious; provided, further, that in contracts where no rate of interest is agreed upon, the rate shall not exceed six per centum (6%) per annum.  
(Feb. 15, 1876. Amended Aug. 11, 1891, Nov. 8, 1960, and Nov. 6, 2001.)  (TEMPORARY TRANSITION PROVISION for Sec. 11: See Appendix, Note 3.)