§661-8 Interest.
294 words·~1 min read·
/hi/chapter-661/661-8A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§661-8 Interest. No interest shall be allowed on any claim up to the time of the rendition of judgment thereon by the court, unless upon a contract expressly stipulating for the payment of interest, or upon a refund of a payment into the "litigated claims fund" as provided by law. [L 1894-5, c 26, §8; RL 1925, §2676; RL 1935, §4427; RL 1945, §10482; am L 1951, c 224, §4; RL 1955, §245-8; HRS §661-8]
Cross References
Litigated claims fund, see §§40-35 and 232-24.
Case Notes
Section does not preclude prejudgment interest where the State is not involved. 51 H. 346, 461 P.2d 140 (1969).
Notwithstanding the constitutional right of a state to sovereign immunity pursuant to the Eleventh Amendment of the United States Constitution, the intermediate court of appeals did not err in determining that the State waived sovereign immunity in arbitration proceedings resulting in award of prejudgment interest pursuant to this section because:
(1)Hawaii case law does not prohibit arbitrators from making awards of prejudgment interest;
(2)this section does not state that an arbitrator is prohibited from awarding prejudgment interest against the State; and
(3)the State "explicitly availed itself" of arbitration proceedings. 140 H. 381, 400 P.3d 582 (2017).
As this section disallows prejudgment interest on claims against the State, except in certain, identified instances, the State did not waive its sovereign immunity from an award of prejudgment interest under this section, and §478-2 did not contradict or supersede the limitation of the State's obligation to pay prejudgment interest only upon a "contract expressly stipulating for the payment of interest", the circuit court did not err when it denied plaintiffs' request for prejudgment interest. 122 H. 150 (App.), 223 P.3d 215 (2009).
Mentioned: 654 F. Supp. 2d 1142 (2009).