Section 38-1a-309 - Interest rate - Preconstruction service or construction contract - Lien(1) Subject to Subsection (2), the interest rate that applies to a lawful contract for preconstruction service or construction work on or for a project property, or to a lien claimed under this chapter against the project property, is, unless otherwise provided in the lawful contract, the rate described in Subsection 15-1-1(2).(2) If a person that claims a lien against project property under this chapter is not in privity of contract with the owner or owner-builder, the interest rate that applies to the person's lien may not exceed the rate described in Subsection 15-1-1(2).Amended by Chapter 373, 2017 General Session ,§ 2, eff. 5/9/2017.Added by Chapter 330, 2012 General Session ,§ 7, eff. 5/8/2012.