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2004 SESSION
HB 1460 Judgment and legal rate of interest; lowered.
Introduced by: Gary A. Reese | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED HOUSE:
Rates of interest. Provides that the legal and judgment rates of interest both are lowered from the current rate of eight and nine percent respectively to six percent, to reflect current market realities. Clarifies that where the relevant contract or instrument is silent and the court or jury has not set the interest rate, the same rate is applied for prejudgment and post-judgment interest. This bill incorporates HB 260.
SUMMARY AS INTRODUCED:
Rates of interest. Provides that the judgment and legal rates of interest both are lowered from the current rate of nine percent to seven percent, to reflect current market realities. Clarifies that where the relevant contract or instrument is silent and the court or jury has not set the interest rate, the same rate is applied for prejudgment and post-judgment interest.