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Text: HF00344                           Text: HF00346
Text: HF00300 - HF00399                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index

House File 345

Partial Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 535.3, Code 1995, is amended to read as
  1  2 follows:
  1  3    535.3  INTEREST ON JUDGMENTS AND DECREES.
  1  4    Interest shall be allowed on all money due on judgments and
  1  5 decrees of courts at the rate of ten percent per year, unless
  1  6 a as follows:
  1  7    1.  At a rate equal to the coupon issue yield equivalent,
  1  8 as determined by the United States secretary of the treasury,
  1  9 of the average accepted auction price for the last auction of
  1 10 fifty-two-week United States treasury bills settled
  1 11 immediately prior to the date of the judgment.
  1 12    2.  A different rate which is fixed by the contract on
  1 13 which the judgment or decree is rendered, in which case the
  1 14 judgment or decree shall draw interest at the rate expressed
  1 15 in the contract, not exceeding the maximum applicable rate
  1 16 permitted by the provisions of section 535.2, which rate must
  1 17 be expressed in the judgment or decree.
  1 18    3.  The state court administrator shall distribute notice
  1 19 monthly of the rate set under subsection 1 and any changes to
  1 20 that rate to all district courts.
  1 21    4.  The interest shall accrue from the date of the
  1 22 commencement of the action.
  1 23    This section does not apply to the award of interest for
  1 24 judgments and decrees subject to section 668.13.  
  1 25                           EXPLANATION
  1 26    This bill provides that the rate of interest on judgments
  1 27 and decrees set in section 535.3 is to be equal to the coupon
  1 28 issue rate of 52-week United States treasury bills unless a
  1 29 different rate is set in the judgment or decree.  The bill
  1 30 also eliminates language in that section made redundant by the
  1 31 bill providing that the section does not apply to comparative
  1 32 fault actions.  
  1 33 LSB 2123HV 76
  1 34 mk/jw/5
     
Text: HF00344                           Text: HF00346
Text: HF00300 - HF00399                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index
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