(1) With respect to a foreign-money claim, recovery of prejudgment or preaward interest and the rate of interest to be applied in the action or distribution proceeding, except as provided in subsection (2) of this section, are matters of the substantive law governing the right to recovery under the conflict of laws rules of this state.
(2) The court or arbitrator shall increase or decrease the amount of prejudgment or preaward interest otherwise payable in a judgment or award in foreign money to the extent required by the law of this state governing a failure to make or accept an offer of settlement or offer of judgment, or conduct by a party or its attorney causing undue delay or expense.
(3) A judgment or award on a foreign-money claim bears interest at the rate applicable to judgments of this state. [1991 c.202 §10]Section: Previous 24.265 24.270 24.275 24.280 24.285 24.290 24.295 24.300 24.305 24.310 24.315 24.320 24.325 24.330 24.335 Next
Last modified: August 7, 2008