(1) If a deed on
transaction provides for the payment of interest, the creditor may
collect the interest from the debtor as set forth in the deed.
(2) The amount of interest which the creditor is entitled to
collect from the debtor pursuant to sub-section (1) shall not exceed
ten percent of the principal per annum.
(3) If the deed executed pursuant to sub-section (1) does
not provide for the rate of interest but only for the payment of
interest, the creditor may collect interest from the debtor at the rate
of ten percent of the principal per annum.
(4) If the deed executed pursuant to sub-section (1)
provides for the payment of profit instead of interest but does not
specify the amount of such profit, the creditor may collect such
profit from the debtor as if it were interest.