HB236 Alabama 2011 Session

Updated Jul 26, 2021

Summary

Primary Sponsor: Gregory Canfield
Republican
Co-Sponsors: Victor Gaston Chad Fincher Jim McClendon
Session: Regular Session 2011
Title: Money judgments not based on a contract action, computation of interest further regulated, Sec. 8-8-10 am'd.
Description: Under existing law, post-judgment interest on money judgments bears interest at the rate of 12 percent.
This bill would provide that judgments, other than judgments based on a contract action, would bear interest from the date of entry of the judgment at a rate equal to the weekly average one-year constant maturity Treasury yield, as published by the Board of Governors of the Federal Reserve System, for the nearest calendar week preceding the date of judgment, and to provide that post-judgment interest would be computed daily to the date of payment, and compounded annually.
Subjects: Banks and Banking