2018 -- H 7458

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LC003203

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2018

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A N   A C T

RELATING TO COURTS AND CIVIL PROCEDURE -- STATUTORY INTEREST

     

     Introduced By: Representative Joseph M. McNamara

     Date Introduced: February 07, 2018

     Referred To: House Judiciary

     It is enacted by the General Assembly as follows:

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     SECTION 1. Section 9-21-10 of the General Laws in Chapter 9-21 entitled "Judgments,

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Orders, and Decrees" is hereby amended to read as follows:

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     9-21-10. Interest in civil actions.

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     (a) In any civil action in which a verdict is rendered or a decision made for pecuniary

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damages, there shall be added by the clerk of the court to the amount of damages interest at the

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rate of twelve percent (12%) six percent (6%) per annum thereon from the date the cause of

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action accrued, which shall be included in the judgment entered therein. Post-judgment interest

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shall be calculated at the rate of twelve percent (12%) six percent (6%) per annum and accrue on

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both the principal amount of the judgment and the prejudgment interest entered therein. This

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section shall not apply until entry of judgment or to any contractual obligation where interest is

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already provided.

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     (b) Subsection (a) shall not apply in any action filed on or after January 1, 1987, for

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personal injury or wrongful death filed against a licensed physician, hospital, clinic, health

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maintenance organization, professional service corporation providing health care services, dentist,

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or dental hygienist based on professional negligence. In all such medical malpractice actions in

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which a verdict is rendered or a decision made for pecuniary damages, there shall be added by the

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clerk of the court to the amount of damages interest at the rate of twelve percent (12%) six

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percent (6%) per annum thereon from the date of written notice of the claim by the claimant or

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his or her representative to the malpractice liability insurer, or to the medical or dental health care

 

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provider or the filing of the civil action, whichever first occurs.

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     SECTION 2. This act shall take effect on January 1, 2019.

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO COURTS AND CIVIL PROCEDURE -- STATUTORY INTEREST

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     This act would decrease from twelve percent (12%) per annum to six percent (6%) per

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annum the statutory interest rate added to judicial civil action money damage judgments.

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     This act would take effect on January 1, 2019.

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