Sec. 37-3b. Rate of interest recoverable in negligence actions.
Sec. 37-3b. Rate of interest recoverable in negligence actions. (a) For a cause
of action arising on or after May 27, 1997, interest at the rate of ten per cent a year, and
no more, shall be recovered and allowed in any action to recover damages for injury to
the person, or to real or personal property, caused by negligence, computed from the
date that is twenty days after the date of judgment or the date that is ninety days after
the date of verdict, whichever is earlier, upon the amount of the judgment.
(b) If any plaintiff in such action files a postverdict or postjudgment motion or an
appeal, the recovery of interest by such plaintiff shall be tolled and interest shall not be
added to the judgment for the period that such postverdict or postjudgment motion or
appeal is pending before the court. The provisions of this subsection shall not apply if
the reason for the filing of a postverdict or postjudgment motion or appeal by the plaintiff
is to reply to or answer a motion or appeal filed by a defendant.
(P.A. 81-315, S. 2; P.A. 97-58, S. 2, 5.)
History: P.A. 97-58 designated existing provisions as Subsec. (a) and amended said Subsec. to make the recovery of
interest mandatory, rather than discretionary, for causes of action arising on or after May 27, 1997 and to provide that the
interest shall be computed "from the date that is 20 days after the date of judgment or the date that is 90 days after the date
of verdict, whichever is earlier, upon the amount of the judgment" rather than "from the date of judgment", and added
Subsec. (b) re the effect on the recovery of interest when the plaintiff files a postverdict or postjudgment motion or an
appeal, effective May 27, 1997.
Cited. 15 CA 381. Cited. 31 CA 455. Cited. 45 CA 543.