Arizona § 28-7101 - Condemnation; interest
Full text of Arizona Arizona Revised Statutes § 28-7101 — Condemnation; interest, with citation guidance and answers to common questions.
§ 28-7101. Condemnation; interest
Interest on a judgment in a condemnation proceeding instituted by the department, including interest that is payable pursuant to section 12-1123, subsection B, shall be calculated for each month or portion of a month that interest is owed and shall be either:
1. The prime rate charged by banks on short-term business loans as determined for publication in the bulletin of the board of governors of the federal reserve system, as of the first day of that month.
2. In the absence of a determination by the board of governors of the federal reserve system, calculated in the same manner based on comparable data as determined by the United States department of commerce, bureau of economic analysis, for publication in "survey of current business".
3. If the prime rate cannot be determined from publication as provided in paragraph 2, determined by a federal agency that is annually designated by the board and that makes and publishes data sufficient to determine the prime rate of interest.
Frequently Asked Questions About Arizona § 28-7101
What does Arizona Revised Statutes § 28-7101 cover?
Section 28-7101 ("Condemnation; interest") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 28-7101?
A common citation format is "Arizona Revised Statutes § 28-7101" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 28-7101 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.