Ark. Code § 16-65-114

Current through the 2022 Third Extraordinary Session.
Section 16-65-114 - Interest on judgments
(a)
(1) Except as provided in subdivision (a)(2) of this section, a judgment entered by a court shall bear post-judgment interest and, if appropriate under the facts of the case, prejudgment interest:
(A) In an action on a contract at the rate provided by the contract or at a rate equal to the Federal Reserve primary credit rate in effect on the date on which the judgment is entered plus two percent (2%), whichever is greater; and
(B) In any other action at a rate equal to the Federal Reserve primary credit rate in effect on the date on which the judgment is entered plus two percent (2%).
(2) Interest on a judgment shall not exceed the maximum rate permitted under Arkansas Constitution, Amendment 89.
(b) A judgment rendered or to be rendered against a county in the state on a county warrant or other evidence of county indebtedness shall not bear interest.

Ark. Code § 16-65-114

Amended by Act 2019, No. 995,§ 1, eff. 7/24/2019.
Amended by Act 2013, No. 1140,§ 1, eff. 8/16/2013.
Acts 1868, No. 9, § 2, p. 32; 1893, No. 78, § 1, p. 145; C. & M. Dig., § 7360; Pope's Dig., § 9399; Acts 1975, No. 474, § 1; 1985, No. 782, § 1; A.S.A. 1947, § 29-124; Acts 2009, No. 633, § 15.