360.040 Interest on judgments.

156 words·~1 min read·/ky/chapter-360/360-040

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Except as provided in subsections (2), (3), and

(4)of this section, a judgment,

including a judgment for prejudgment interest, shall bear six percent (6%)

interest compounded annually from the date the judgment is entered. A

judgment may be for the principal and accrued interest.

(2)A judgment for unpaid child support payments shall bear twelve percent (12%)

interest compounded annually from the date the judgment is entered.

(3)A judgment rendered on a contract, promissory note, or other written obligation

shall bear interest at the interest rate established in that contract, promissory

note, or other written obligation.

(4)When a claim for unliquidated damages is reduced to judgment, such judgment

may bear less interest than six percent (6%) if the court rendering such

judgment, after a hearing on that question, is satisfied that the rate of interest

should be less than six percent (6%). All interested parties must have due

notice of said hearing.