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SB3381 - Tennessee - Courts, Municipal

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Latest Update: Thursday, July, 24th 2008

Companion Bill HB3198.

Courts, Municipal - Provides that decrees of municipal courts earn same post-judgment interest as other court decrees and judgments. - Amends TCA Title 47, Chapter 14.

Fiscal Summary for SB3381 / *HB3198

MINIMAL

Bill Summary for SB3381 / *HB3198

Under present law, interest on judgments is generally computed at the effective rate of 10 percent per annum. If a judgment is based on a note, contract, or other writing fixing a rate of interest within the usury limits for that particular category of transaction, the judgment bears interest at the rate so fixed.

This bill specifically requires interest on municipal court judgments to be computed at the same rate as interest on other judgments.

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Latest Actions

04/04/2008 - Companion became Public Chapter 655
03/17/2008 - Companion House Bill Substituted (sends Senate Bill to deAdopted bill file)
03/14/2008 - Placed on Senate Consent Calendar (2) Calendar for 03/17/2008
03/11/2008 - Recommended For Passage Referred to: Senate Calendar Comm.
03/06/2008 - Placed on Senate Jud Comm. Calendar for 03/11/2008

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