25-9-710. Prejudgment and judgment interest.
25-9-710. Prejudgment and judgment interest. (1) Except as provided in subsection (2), recovery of prejudgment or preaward interest and the rate of interest to be applied in the action or distribution proceeding, with respect to a foreign-money claim, are matters of the substantive law governing the right to recovery under the conflict-of-laws rules of this state.
(2) The court or arbitrator shall increase or decrease the amount of prejudgment or preaward interest otherwise payable in a judgment or award in foreign money 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 governing conduct by a party or its attorney causing undue delay or expense.
(3) A judgment or award on a foreign-money claim bears interest at the rate applicable to judgments of this state.
History: En. Sec. 10, Ch. 152, L. 1993.