Nebraska Statutes 45-103. Interest; judgments; decrees; rate; exceptions
For decrees and judgments rendered before July 20, 2002, interest on decrees and judgments for the payment of money shall be fixed at a rate equal to one percentage point above the bond equivalent yield, as published by the Secretary of the Treasury of the United States, of the average accepted auction price for the last auction of fifty-two-week United States Treasury bills in effect on the date of entry of the judgment. For decrees and judgments rendered on and after July 20, 2002, interest on decrees and judgments for the payment of money shall be fixed at a rate equal to two percentage points above the bond investment yield, as published by the Secretary of the Treasury of the United States, of the average accepted auction price for the first auction of each annual quarter of the twenty-six-week United States Treasury bills in effect on the date of entry of the judgment. The State Court Administrator shall distribute notice of such rate and any changes to it to all Nebraska judges to be in effect two weeks after the date the auction price is published by the Secretary of the Treasury of the United States. This interest rate shall not apply to:
Terms Used In Nebraska Statutes 45-103
- Action: shall include any proceeding in any court of this state. See Nebraska Statutes 49-801
- Contract: A legal written agreement that becomes binding when signed.
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
- United States: shall include territories, outlying possessions, and the District of Columbia. See Nebraska Statutes 49-801
(1) An action in which the interest rate is specifically provided by law; or
(2) An action founded upon an oral or written contract in which the parties have agreed to a rate of interest other than that specified in this section.
Source
- Laws 1879, § 3, p. 113;
- R.S.1913, § 3348;
- C.S.1922, § 2836;
- C.S.1929, § 45-103;
- Laws 1933, c. 85, § 1, p. 336;
- C.S.Supp.,1941, § 45-103;
- R.S.1943, § 45-103;
- Laws 1972, LB 1330, § 1;
- Laws 1980, LB 279, § 6;
- Laws 1981, LB 42, § 24;
- Laws 1981, LB 167, § 32;
- Laws 1986, LB 298, § 1;
- Laws 1994, LB 1183, § 1;
- Laws 2000, LB 921, § 35;
- Laws 2002, LB 876, § 78.