Connecticut § 5-276b - Interest charges on overdue arbitration settlement payments.
Full text of Connecticut Connecticut General Statutes § 5-276b — Interest charges on overdue arbitration settlement payments., with citation guidance and answers to common questions.
§ 5-276b. Interest charges on overdue arbitration settlement payments.
Sec. 5-276b. Interest charges on overdue arbitration settlement payments. (a) Whenever a monetary settlement is awarded pursuant to an interest arbitration proceeding conducted pursuant to section 5-276a, and such award is not rejected by the legislature pursuant to section 5-278, and payment is not made in accordance with the terms of such settlement within sixty days of the date such award was issued, the party liable for such payment shall be required to pay interest, at the rate of five per cent per annum, on such overdue payment, calculated from the date the award was issued.
(b) Whenever a monetary settlement is awarded pursuant to a state employee grievance arbitration proceeding, and payment is not made in accordance with the terms of such settlement within thirty days of the date such award was issued, the party liable for such payment shall be required to pay interest, at the rate of five per cent per annum, on such overdue payment, calculated from the date the award was issued.
(P.A. 87-335.)
Subsec. (b):
Constitutes statutory exception to power of Claims Commissioner and is legislative waiver of sovereign immunity with respect to interest. 20 CA 676.
Source: official Connecticut text · Last verified 2026-08-27
Frequently Asked Questions About Connecticut § 5-276b
What does Connecticut General Statutes § 5-276b cover?
Section 5-276b ("Interest charges on overdue arbitration settlement payments.") is part of the Connecticut General Statutes, the codified statutory law of Connecticut. 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 Connecticut § 5-276b?
A common citation format is "Connecticut General Statutes § 5-276b" (Connecticut). 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 Connecticut law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Connecticut official source linked on this page or consult a licensed Connecticut attorney.
How does Connecticut § 5-276b apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Connecticut can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
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