360.040 Interest on judgments

(1) Except as provided in subsections (2), (3), and (4) of this section, a judgment, including a judgment for prejudgment interest, shall bear six percent (6) interest compounded annually from the date the judgment is entered. A judgment may be for the principal and accrued interest

(2) A judgment for unpaid child support payments shall bear twelve percent (12) interest compounded annually from the date the judgment is entered

(3) A judgment rendered on a contract, promissory note, or other written obligation shall bear interest at the interest rate established in that contract, promissory note, or other written obligation

(4) When a claim for unliquidated damages is reduced to judgment, such judgment may bear less interest than six percent (6) if the court rendering such judgment, after a hearing on that question, is satisfied that the rate of interest should be less than six percent (6)

All interested parties must have due notice of said hearing

Effective:June 29, 2017 History: Amended 2017 Ky. Acts ch. 17, sec. 1, effective June 29, 2017. -- Amended 1982 Ky. Acts ch. 7, sec. 2, effective July 15, 1982. -- Amended 1976 Ky. Acts ch. 59, sec. 2. -- Amended 1942 Ky. Acts ch. 99, sec. 1. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec

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Legislative Research Commission Note (6/29/2017). 2017 Ky. Acts ch. 17, sec. 4 provided that amendments made to this statute in 2017 Ky. Acts ch. 17, sec. 1 apply to all judgments entered by a court on or after June 29, 2017, the effective date of that Act