CHAPTER 4. PREJUDGMENT INTEREST
IC 34-51-4
Chapter 4. Prejudgment Interest
IC 34-51-4-1
Applicability of chapter to tort actions
Sec. 1. This chapter applies to any civil action arising out of
tortious conduct.
As added by P.L.1-1998, SEC.47.
IC 34-51-4-2
Applicability of chapter to claims against patient's compensation
fund
Sec. 2. This chapter does not apply to a claim against the patient's
compensation fund under IC 34-18-6, IC 27-12-6 (before its repeal),
or IC 16-9.5-4 (before its repeal).
As added by P.L.1-1998, SEC.47.
IC 34-51-4-3
Applicability of chapter to punitive damages claims
Sec. 3. This chapter does not impose liability for prejudgment
interest on any part of a judgment that is awarded as punitive
damages.
As added by P.L.1-1998, SEC.47.
IC 34-51-4-4
Liability of state or political subdivision
Sec. 4. This chapter does not impose liability for prejudgment
interest on the state or any political subdivision (as those terms are
defined in IC 34-6-2-140 and IC 34-6-2-110).
As added by P.L.1-1998, SEC.47.
IC 34-51-4-5
Applicability of chapter upon timely offer of settlement by
defendants
Sec. 5. This chapter does not apply if:
(1) within nine (9) months after a claim is filed in the court, or
any longer period determined by the court to be necessary upon
a showing of good cause, one (1) or more of the parties against
whom the claim is filed makes a written offer of settlement to
the party receiving a judgment;
(2) the terms of the offer include payment within sixty (60) days
after the offer is accepted; and
(3) the amount of the offer is at least two-thirds (2/3) of the
amount of the judgment award.
As added by P.L.1-1998, SEC.47.
IC 34-51-4-6
Applicability of chapter upon timely offer of settlement by
plaintiffs
Sec. 6. This chapter does not apply if:
(1) within one (1) year after a claim is filed in the court, or any
longer period determined by the court to be necessary upon a
showing of good cause, the party who filed the claim fails to
make a written offer of settlement to the party or parties against
whom the claim is filed;
(2) the terms of the offer fail to provide for payment of the
settlement offer within sixty (60) days after the offer is
accepted; or
(3) the amount of the offer exceeds one and one-third (1 1/3) of
the amount of the judgment awarded.
As added by P.L.1-1998, SEC.47.
IC 34-51-4-7
Award of prejudgment interest as part of judgment
Sec. 7. The court may award prejudgment interest as part of a
judgment.
As added by P.L.1-1998, SEC.47.
IC 34-51-4-8
Time of accrual of prejudgment interest
Sec. 8. (a) If the court awards prejudgment interest, the court shall
determine the period during which prejudgment interest accrues.
However, the period may not exceed forty-eight (48) months.
Prejudgment interest begins to accrue on the latest of the following
dates:
(1) Fifteen (15) months after the cause of action accrued.
(2) Six (6) months after the claim is filed in the court if
IC 34-18-8 and IC 34-18-9 do not apply.
(3) One hundred eighty (180) days after a medical review panel
is formed to review the claim under IC 34-18-10 (or
IC 27-12-10 before its repeal).
(b) The court shall exclude from the period in which prejudgment
interest accrues any period of delay that the court determines is
caused by the party petitioning for prejudgment interest.
As added by P.L.1-1998, SEC.47.
IC 34-51-4-9
Rate of prejudgment interest
Sec. 9. The court shall compute the prejudgment interest at the
simple rate of interest determined by the court. The rate set by the
court may not be less than six percent (6%) per year and not more
than ten percent (10%) per year.
As added by P.L.1-1998, SEC.47.