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| 5 | 5 | | 2025 -- H 5179 |
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| 6 | 6 | | ======== |
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| 7 | 7 | | LC000846 |
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| 8 | 8 | | ======== |
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| 9 | 9 | | S T A T E O F R H O D E I S L A N D |
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| 10 | 10 | | IN GENERAL ASSEMBLY |
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| 11 | 11 | | JANUARY SESSION, A.D. 2025 |
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| 12 | 12 | | ____________ |
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| 13 | 13 | | |
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| 14 | 14 | | A N A C T |
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| 15 | 15 | | RELATING TO COURTS AND CIVIL PROCEDURE -- PROCEDURE GENERALLY -- |
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| 16 | 16 | | JUDGMENTS, ORDERS, AND DECREES |
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| 17 | 17 | | Introduced By: Representative Alex S. Finkelman |
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| 18 | 18 | | Date Introduced: January 24, 2025 |
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| 19 | 19 | | Referred To: House Judiciary |
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| 20 | 20 | | |
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| 21 | 21 | | |
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| 22 | 22 | | It is enacted by the General Assembly as follows: |
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| 23 | 23 | | SECTION 1. Section 9-21-10 of the General Laws in Chapter 9-21 entitled "Judgments, 1 |
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| 24 | 24 | | Orders, and Decrees" is hereby amended to read as follows: 2 |
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| 25 | 25 | | 9-21-10. Interest in civil actions. 3 |
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| 26 | 26 | | (a) In any civil action in which a verdict is rendered or a decision made for pecuniary 4 |
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| 27 | 27 | | damages, there shall be added by the clerk of the court to the amount of damages interest at the rate 5 |
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| 28 | 28 | | of twelve percent (12%) per annum thereon from the date the cause of action accrued of the filing 6 |
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| 29 | 29 | | of the civil action calculated at a rate equal to the coupon issue yield equivalent, as determined by 7 |
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| 30 | 30 | | the United States secretary of the treasury, of the average accepted auction price for the last auction 8 |
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| 31 | 31 | | of fifty-two (52) week United States treasury bills settled immediately preceding the date of the 9 |
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| 32 | 32 | | filing of the action, which shall be included in the judgment entered therein. Post-judgment interest 10 |
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| 33 | 33 | | shall be calculated at the rate of twelve percent (12%) per annum and accrue on both the principal 11 |
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| 34 | 34 | | amount of the judgment and the prejudgment interest entered therein a rate equal to the coupon 12 |
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| 35 | 35 | | issue yield equivalent, as determined by the United States secretary of the treasury, of the average 13 |
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| 36 | 36 | | accepted auction price for the last auction of fifty-two (52) week United States treasury bills settled 14 |
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| 37 | 37 | | immediately preceding the date of the filing of the action. This section shall not apply until entry 15 |
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| 38 | 38 | | of judgment or to any contractual obligation where interest is already provided. 16 |
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| 39 | 39 | | (b) Subsection (a) shall not apply in any action filed on or after January 1, 1987, for 17 |
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| 40 | 40 | | personal injury or wrongful death filed against a licensed physician, hospital, clinic, health 18 |
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| 41 | 41 | | |
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| 42 | 42 | | |
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| 43 | 43 | | LC000846 - Page 2 of 3 |
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| 44 | 44 | | maintenance organization, professional service corporation providing health care services, dentist, 1 |
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| 45 | 45 | | or dental hygienist based on professional negligence. In all such medical malpractice actions in 2 |
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| 46 | 46 | | which a verdict is rendered or a decision made for pecuniary damages, there shall be added by the 3 |
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| 47 | 47 | | clerk of the court to the amount of damages interest at the rate of twelve percent (12%) per annum 4 |
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| 48 | 48 | | thereon from the date of written notice of the claim by the claimant or his or her representative to 5 |
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| 49 | 49 | | the malpractice liability insurer, or to the medical or dental health care provider or the filing of the 6 |
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| 50 | 50 | | civil action, whichever first occurs. 7 |
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| 51 | 51 | | SECTION 2. This act shall take effect upon passage. 8 |
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| 52 | 52 | | ======== |
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| 53 | 53 | | LC000846 |
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| 54 | 54 | | ======== |
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| 55 | 55 | | |
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| 56 | 56 | | |
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| 57 | 57 | | LC000846 - Page 3 of 3 |
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| 58 | 58 | | EXPLANATION |
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| 59 | 59 | | BY THE LEGISLATIVE COUNCIL |
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| 60 | 60 | | OF |
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| 61 | 61 | | A N A C T |
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| 62 | 62 | | RELATING TO COURTS AND CIVIL PROCEDURE -- PROCEDURE GENERALL Y -- |
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| 63 | 63 | | JUDGMENTS, ORDERS, AND DECREES |
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| 64 | 64 | | *** |
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| 65 | 65 | | This act would amend the calculations of interest in civil actions and provide that the 1 |
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| 66 | 66 | | interest would be calculated a rate equal to the coupon issue yield equivalent, as determined by the 2 |
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| 67 | 67 | | United States secretary of the treasury, of the average accepted auction price for the last auction of 3 |
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| 68 | 68 | | fifty-two (52) week United States treasury bills settled immediately preceding the date of the filing 4 |
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| 69 | 69 | | of the action. 5 |
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| 70 | 70 | | This act would take effect upon passage. 6 |
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| 71 | 71 | | ======== |
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| 72 | 72 | | LC000846 |
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| 73 | 73 | | ======== |
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