Report Title:

Relating to Interest.

Description:

Reduces the interest on judgments recovered in civil suits from the current 10% a year to 6%.

THE SENATE

S.B. NO.

2837

TWENTY-SECOND LEGISLATURE, 2004

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

RELATING TO INTEREST.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. Section 478-3, Hawaii Revised Statutes, is amended to read as follows:

"§478-3 On judgment. Interest at the rate of [ten] six per cent a year, and no more, shall be allowed on any judgment recovered before any court in the State, in any civil suit."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval.

INTRODUCED BY:

_____________________________

BY REQUEST