2012 -- H 7246

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LC00719

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STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2012

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A N A C T

RELATING TO COURTS AND CIVIL PROCEDURE - STATUTORY INTEREST

     Introduced By: Representatives Marcello, Hearn, and DaSilva

     Date Introduced: January 25, 2012

     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. -- (a) In any civil action in which a verdict is rendered

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or a decision made for pecuniary damages, there shall be added by the clerk of the court to the

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amount of damages interest at the rate of twelve six percent (12%) (6%) per annum thereon from

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the date the cause of action accrued, which shall be included in the judgment entered therein.

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Post-judgment interest shall be calculated at the rate of twelve six percent (12%) (6%) per annum

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and accrue on both the principal amount of the judgment and the prejudgment interest entered

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therein. This section shall not apply until entry of judgment or to any contractual obligation where

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interest is 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 six percent (12%) (6%)

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per annum thereon from the date of written notice of the claim by the claimant or his or her

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

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

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     SECTION 2. This act shall take effect on January 1, 2013

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LC00719

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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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     Effective January 1, 2013, the statutory interest assessment civil action updates would be

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decreased from twelve percent (12%) per annum to six (6%) per annum.

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     This act would take effect on January 1, 2013.

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LC00719

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