15-1-4 - Interest on judgments. - Utah Statutes

15-1-4. Interest on judgments.
(1) As used in this section, "federal postjudgment interest rate" means the interest rateestablished for the federal court system under 28 U.S.C. Sec. 1961, as amended.
(2) (a) Except as provided in Subsection (2)(b), a judgment rendered on a lawful contractshall conform to the contract and shall bear the interest agreed upon by the parties, which shall bespecified in the judgment.
(b) A judgment rendered on a deferred deposit loan subject to Title 7, Chapter 23, CheckCashing and Deferred Deposit Lending Registration Act, shall bear interest at the rate imposedunder Subsection (3) on an amount not exceeding the sum of:
(i) the total of the principal balance of the deferred deposit loan;
(ii) interest at the rate imposed by the deferred deposit loan agreement for a period notexceeding 10 weeks as provided in Subsection 7-23-401(4);
(iii) costs;
(iv) attorney fees; and
(v) other amounts allowed by law and ordered by the court.
(3) (a) Except as otherwise provided by law, other civil and criminal judgments of thedistrict court and justice court shall bear interest at the federal postjudgment interest rate as ofJanuary 1 of each year, plus 2%.
(b) The postjudgment interest rate in effect at the time of the judgment shall remain theinterest rate for the duration of the judgment.
(c) The interest on criminal judgments shall be calculated on the total amount of thejudgment.
(d) Interest paid on state revenue shall be deposited in accordance with Section63A-8-301.
(e) Interest paid on revenue to a county or municipality shall be paid to the general fundof the county or municipality.

Amended by Chapter 102, 2010 General Session