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MS SB2398
Bill
AI Summary
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Caps judgment interest rates at 10% maximum for judgments founded on sales or contracts, regardless of the contract's original interest rate.
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Limits interest rates on all other judgments to 10% maximum, as set by the judge hearing the case, beginning no earlier than the complaint filing date.
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Applies the 10% interest rate cap to disqualified shareholders' judgments in professional corporation fair value proceedings under Mississippi Code Section 79-10-41.
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Applies the 10% interest rate cap to disqualified members' judgments in professional limited liability company fair value proceedings under Mississippi Code Section 79-29-913.
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Takes effect June 30, 2023.
Legislative Description
Judgments; prohibit from bearing interest at a rate greater than 10 percent.
Last Action
Died In Committee
1/31/2023