Amends GS 136-113 to provide that interest at the prime rate plus 1% (rather than the legal rate under GS 24-1) must be added to the damages amount. Effective October 1, 2012.
INTEREST RATE ON DOT CONDEMNATION DEPOSITS.
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| View NCGA Bill Details | 2011-2012 Session |
TO AUTHORIZE A MARKET INTEREST RATE OF INTEREST ON DEPARTMENT OF TRANSPORTATION CONDEMNATION JUDGMENTS, AS RECOMMENDED BY THE LEGISLATIVE RESEARCH COMMISSION LIFE CYCLE COST ANALYSIS COMMITTEE.Intro. by Torbett.
Status: Ref To Com On Transportation (House Action) (May 23 2012)
Bill History:
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Tue, 22 May 2012 House: Filed
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Wed, 23 May 2012 House: Passed 1st Reading
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Wed, 23 May 2012 House: Ref To Com On Transportation
H 1037
Bill Summaries:
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Bill H 1037 (2011-2012)Summary date: May 22 2012 - View Summary
View: All Summaries for Bill