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AZ SB1006
Bill
Status
1/10/2011
Primary Sponsor
Stephen Pierce
Click for details
AI Summary
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Amends Arizona Revised Statutes Section 12-352 regarding interest payments on medical malpractice judgments.
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Requires courts to award interest to the prevailing party at a rate equal to three percentage points above the federal postjudgment interest rate as of the judgment date.
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Interest accrues only from the judgment date until payment, with no interest paid if the judgment is reversed or set aside.
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Adjusts the interest rate semi-annually on June 30 and December 31 each year to reflect changes in the federal postjudgment interest rate, with a maximum cap of nine percent.
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Defines "federal postjudgment interest rate" as the rate established for the federal court system under 28 United States Code Section 1961.
Legislative Description
Technical correction; courts; interest payments
Last Action
Referred to Senate RULES Committee
1/11/2011