[§658B-9] Prejudgment and judgment interest.
138 words·~1 min read·
/hi/658b-9A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
[§658B-9] Prejudgment and judgment interest.
(a)With respect to a foreign-money claim, recovery of prejudgment interest and the rate of interest to be applied in the action or distribution proceeding are matters of the substantive law governing the right to recovery under the conflict of laws rules of this State.
(b)Notwithstanding subsection (a), an increase or decrease in the amount of prejudgment interest otherwise payable may be made in a foreign-money judgment to the extent required by the law of this State governing a failure to make or accept an offer of settlement or offer of judgment, or conduct by a party or its attorney causing undue delay or expense.
(c)A judgment on a foreign-money claim bears interest at the same rate applicable to other judgments of this State. [L 1990, c 50, pt of §1]