2014 -- H 7501

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LC004375

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2014

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A N   A C T

RELATING TO COURTS AND CIVIL PROCEDURE - STATUTORY INTEREST

     Introduced By: Representatives Marcello, Hearn, Nunes, Ajello, and Morgan

     Date Introduced: February 13, 2014

     Referred To: House Judiciary

     It is enacted by the General Assembly as follows:

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

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

     9-21-10. Interest in civil actions. -- (a) In any civil action in which a verdict is rendered

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

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

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

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

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

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

interest is already provided.

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

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

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

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

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

clerk of the court to the amount of damages interest at the rate of twelve six percent (12%) (6%)

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

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

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

     SECTION 2. This act shall take effect on January 1, 2015.

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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 (6%) per annum the

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

     This act would take effect on January 1, 2015.

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