Reduction of excessive damage award
Sec. 5. If a trier of fact awards punitive damages that exceed the
limitation under section 4 of this chapter, the court shall reduce the
punitive damage award to not more than the greater of:
(1) three (3) times the amount of compensatory damages
awarded in the action; or
(2) fifty thousand dollars ($50,000).
As added by P.L.1-1998, SEC.47.
Last modified: May 24, 2006