Tennessee § 47-14-121 - Interest on judgments — Rate.

§ 47-14-121. Interest on judgments — Rate.

Except as set forth in subsection (c), the interest rate on judgments per annum in all courts, including decrees, shall: For any judgment entered between July 1 and December 31, be equal to two percent (2%) less than the formula rate per annum published by the commissioner of financial institutions, as required by § 47-14-105, for June of the same year; or For any judgment entered between January 1 and June 30, be equal to two percent (2%) less than the formula rate per annum published by the commissioner of financial institutions, as required by § 47-14-105, for December of the prior year. To assist parties and the courts in determining and applying the interest rate on judgments set forth in subsection (a) for the six-month period in which a judgment is entered, before or at the beginning of each six-month period the administrative office of the courts: Shall calculate the interest rate on judgments that applies for the new six-month period pursuant to subsection (a); Shall publish that rate on the administrative office of the courts' web site; and Shall maintain and publish on that web site the judgment interest rates for each prior six-month period going back to the rate in effect for the six-month period beginning July 1, 2012. Notwithstanding subsection (a) or (b), where a judgment is based on a statute, note, contract, or other writing that fixes a rate of interest within the limits provided in § 47-14-103 for particular categories of creditors, lenders or transactions, the judgment shall bear interest at the rate so fixed. Acts 1979, ch. 203, § 20; 1981, ch. 263, § 1; 2008, ch. 655, § 1; 2012, ch. 1043, § 1. Textbooks. Gibson's Suits in Chancery (7th ed., Inman), § 226. Cited: International Harvester Credit Corp. v. Hill, 496 F. Supp. 329, 1979 U.S. Dist. LEXIS 9181 (M.D. Tenn. 1979); Memphis Sheraton Corp. v. Kirkley, 640 F.2d 14, 1981 U.S. App. LEXIS 21060 (6th Cir. Tenn. 1981); Carborundum Co. v. Tennessee Valley Authority, 518 F. Supp. 1260, 1981 U.S. Dist. LEXIS 13673 (E.D. Tenn. 1981); In re Strong, 12 B.R. 221, 1981 Bankr. LEXIS 3702 (Bankr. W.D. Tenn. 1981); Owens v. State, 710 S.W.2d 518, 1986 Tenn. LEXIS 831 (Tenn. 1986); Harrington v. Harrington, 759 S.W.2d 664, 1988 Tenn. LEXIS 189 (Tenn. 1988); Beare Co. v. State, 814 S.W.2d 715, 1991 Tenn. LEXIS 295 (Tenn. 1991); In re Dick, 136 B.R. 1000, 1992 Bankr. LEXIS 301 (Bankr. W.D. Tenn. 1992); Austin v. State, 831 S.W.2d 789, 1991 Tenn. App. LEXIS 938 (Tenn. Ct. App. 1991); Newton v. Cox, 954 S.W.2d 746, 1997 Tenn. App. LEXIS 229 (Tenn. Ct. App. 1997); Hayes v. Hayes (In re Hayes), 235 B.R. 885, 1999 Bankr. LEXIS 785 (Bankr. W.D. Tenn. 1999); Ray Bell Constr. Co. v. State, — S.W.3d —, 2010 Tenn. App. LEXIS 737 (Tenn. Ct. App. Nov. 24, 2010); Moss v. Moss, — S.W.3d —, 2011 Tenn. App. LEXIS 190 (Tenn. Ct. App. Apr. 15, 2011); Smith v. Israel, — S.W.3d —, 2011 Tenn. App. LEXIS 593 (Tenn. Ct. App. Oct. 31, 2011).