Oklahoma § 12-727 - Interest on judgments rendered on or after January 1,

§ 12-727. Interest on judgments rendered on or after January 1,

2000, but before January 1, 2005.

POSTJUDGMENT INTEREST

A. 1. Except as otherwise provided by this section, all

judgments of courts of record, including costs and attorney fees

authorized by statute or otherwise and allowed by the court, shall

bear interest at a rate prescribed pursuant to this section.

Oklahoma Statutes - Title 12. Civil Procedure

2. Costs and attorney fees allowed by the court shall bear

interest from the earlier of the date the judgment or order is

pronounced, if expressly stated in the written judgment or order

awarding the costs and attorney fees, or the date the judgment or

order is filed with the court clerk.

B. Judgments, including costs and attorney fees authorized by

statute or otherwise and allowed by the court, against this state or

its political subdivisions, including counties, municipalities,

school districts, and public trusts of which this state or a

political subdivision of this state is a beneficiary, shall bear

interest during the term of judgment at a rate prescribed pursuant

to this section, but not to exceed ten percent (10%), from the date

of rendition. No judgment against this state or its political

subdivisions, including counties, municipalities, school districts,

and public trusts of which this state or a political subdivision of

this state is a beneficiary, inclusive of postjudgment interest,

shall exceed the total amount of liability of the governmental

entity pursuant to The Governmental Tort Claims Act.

C. The postjudgment interest authorized by subsection A or

subsection B of this section shall accrue from the earlier of the

date the judgment is rendered as expressly stated in the judgment,

or the date the judgment is filed with the court clerk, and shall

initially accrue at the rate in effect for the calendar year during

which the judgment is rendered until the end of the calendar year in

which the judgment was rendered, or until the judgment is paid,

whichever first occurs. Beginning on the first day of January of

the next succeeding calendar year until the end of that calendar

year, or until the judgment is paid, whichever first occurs, the

judgment, together with postjudgment interest previously accrued,

shall bear interest at the rate in effect for judgments rendered

during that calendar year as certified by the Administrative

Director of the Courts pursuant to subsection I of this section.

For each succeeding calendar year, or part of a calendar year,

during which a judgment remains unpaid, the judgment, together with

postjudgment interest previously accrued, shall bear interest at the

rate in effect for judgments rendered during that calendar year as

certified by the Administrative Director of the Courts pursuant to

subsection I of this section. A separate computation using the

interest rate in effect for judgments as provided by subsection I of

this section shall be made for each calendar year, or part of a

calendar year, during which the judgment remains unpaid in order to

determine the total amount of interest for which the judgment debtor

is liable. The postjudgment interest rate for each calendar year or

part of a calendar year a judgment remains unpaid shall be

multiplied by the original amount of the judgment, including any

prejudgment interest, together with postjudgment interest previously

accrued. Interest shall accrue on a judgment in the manner

Oklahoma Statutes - Title 12. Civil Procedure

prescribed by this subsection until the judgment is satisfied or

released.

D. If a rate of interest is specified in a contract, the rate

specified shall apply and be stated in the journal entry of

judgment. The rate of interest shall not exceed the lawful rate for

that obligation. Postjudgment interest shall be calculated and

accrued in the same manner as prescribed in subsection C of this

section.

PREJUDGMENT INTEREST

E. Except as provided by subsection F of this section, if a

verdict for damages by reason of personal injuries or injury to

personal rights including, but not limited to, injury resulting from

bodily restraint, personal insult, defamation, invasion of privacy,

injury to personal relations, or detriment due to an act or omission

of another is accepted by the trial court, the court in rendering

judgment shall add interest on the verdict at a rate prescribed

pursuant to subsection I of this section from the date the suit

resulting in the judgment was commenced to the earlier of the date

the verdict is accepted by the trial court as expressly stated in

the judgment, or the date the judgment is filed with the court

clerk. The interest rate for computation of prejudgment interest

shall begin with the rate prescribed by subsection I of this section

which is in effect for the calendar year in which the suit resulting

in the judgment is commenced. This rate shall be in effect until

the end of the calendar year in which the suit resulting in judgment

was filed or until the date judgment is filed, whichever first

occurs. Beginning on the first day of January of the next

succeeding calendar year until the end of that calendar year, or

until the date the judgment is filed, whichever first occurs, and

for each succeeding calendar year thereafter, the prejudgment

interest rate shall be the rate in effect for judgments rendered

during each calendar year as certified by the Administrative

Director of the Courts pursuant to subsection I of this section.

After the computation of all prejudgment interest has been

completed, the total amount of prejudgment interest shall be added

to the amount of the judgment rendered pursuant to the trial of the

action, and the total amount of the resulting judgment shall become

the amount upon which postjudgment interest is computed pursuant to

subsection A of this section.

F. If a verdict of the type described by subsection E of this

section is rendered against this state or its political

subdivisions, including counties, municipalities, school districts,

and public trusts of which this state or a political subdivision of

this state is a beneficiary, the judgment shall bear interest at the

rate prescribed pursuant to subsection I of this section, but not to

exceed ten percent (10%) from the date the suit was commenced to the

earlier of the date the verdict is accepted by the trial court as

Oklahoma Statutes - Title 12. Civil Procedure

expressly stated in the judgment or the date the judgment is filed

with the court clerk. The interest rate for computation of

prejudgment interest shall begin with the rate prescribed by

subsection I of this section which is in effect for the calendar

year in which the suit resulting in the judgment is commenced. This

rate shall be in effect until the end of the calendar year in which

the suit resulting in judgment was filed or until the date the

judgment is rendered as expressly stated in the judgment, whichever

first occurs. Beginning on the first day of January of the next

succeeding calendar year until the end of that calendar year, or

until the date judgment is rendered, whichever first occurs, and for

each succeeding calendar year thereafter, the prejudgment interest

rate shall be the rate in effect for judgments rendered during each

calendar year as certified by the Administrative Director of the

Courts pursuant to subsection I of this section. After the

computation of prejudgment interest has been completed, the amount

shall be added to the amount of the judgment rendered pursuant to

the trial of the action, and the total amount of the resulting

judgment shall become the amount upon which postjudgment interest is

computed pursuant to subsection B of this section. No award of

prejudgment interest against this state or its political

subdivisions, including counties, municipalities, school districts,

and public trusts of which this state or a political subdivision of

this state is a beneficiary, including the amount of the judgment

awarded pursuant to trial of the action, shall exceed the total

amount of liability of the governmental entity pursuant to The

Governmental Tort Claims Act.

G. If exemplary or punitive damages are awarded in an action

for personal injury or injury to personal rights including, but not

limited to, injury resulting from bodily restraint, personal insult,

defamation, invasion of privacy, injury to personal relations, or

detriment due to an act or omission of another, the interest on

that award shall begin to accrue from the earlier of the date the

judgment is rendered as expressly stated in the judgment, or the

date the judgment is filed with the court clerk.

H. If a judgment is rendered establishing the existence of a

lien against property and no rate of interest exists, the court

shall allow prejudgment interest at a rate prescribed pursuant to

subsection I of this section from the date the lien is filed to the

date of verdict.

I. For purposes of computing either postjudgment interest or

prejudgment interest as authorized by this section, interest shall

be determined using a rate equal to the average United States

Treasury Bill rate of the preceding calendar year as certified to

the Administrative Director of the Courts by the State Treasurer on

the first regular business day in January of each year, plus four

percentage points.

Oklahoma Statutes - Title 12. Civil Procedure

J. For purposes of computing postjudgment interest, the

provisions of this section, including the amendments prescribed by

Chapter 320, O.S.L. 1997, shall be applicable to all judgments of

the district courts rendered on or after January 1, 2000 but before

January 1, 2005. Until January 1, 2005, the method for computing

postjudgment interest prescribed by this section shall be applicable

to all judgments remaining unpaid rendered prior to January 1, 2000.

K. For purposes of computing prejudgment interest, the

provisions of this section, including the amendments prescribed by

Chapter 320, O.S.L. 1997, shall be applicable to all actions which

are filed in the district courts on or after January 1, 2000, but

before January 1, 2005, for which an award of prejudgment interest

is authorized by the provisions of this section.

R.L.1910, § 1008. Amended by Laws 1968, c. 71, § 1, emerg. eff.

March 25, 1968; Laws 1971, c. 252, § 1. Renumbered from § 274 of

Title 15 by Laws 1971, c. 252, § 2. Amended by Laws 1979, c. 60, §

1, eff. Oct. 1, 1979; Laws 1982, c. 78, § 1, emerg. eff. April 1,

1982; Laws 1984, c. 83, § 1, emerg. eff. April 4, 1984; Laws 1985,

c. 257, § 1, eff. Nov. 1, 1985; Laws 1986, c. 315, § 4, eff. Nov. 1,

1986; Laws 1997, c. 320, § 2, eff. Jan. 1, 1998; Laws 1999, c. 293,

§ 7, eff. Nov. 1, 1999; Laws 2004, c. 368, § 6, eff. Nov. 1, 2004.