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AZ SB1006

Bill

Status

Introduced

1/10/2011

Primary Sponsor

Stephen Pierce

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Origin

Senate

Fiftieth Legislature - First Regular Session (2011)

AI Summary

  • Amends Arizona Revised Statutes Section 12-352 regarding interest payments on medical malpractice judgments.

  • 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.

  • Interest accrues only from the judgment date until payment, with no interest paid if the judgment is reversed or set aside.

  • 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.

  • 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

Full Bill Text

No bill text available