46 U.S.C. § 30911 — Costs and interest

submitted 20 years ago by Pub. L. 109-304 to r/title-46-SHIPPING · 89 words · no verdicts yet

in plain englishAI-generated · not legal advice

A judgment against the United States or a federally-owned corporation can include costs plus 4 percent yearly interest, but never for time before the suit was filed. If the claim is based on a contract with its own interest terms, that rate applies instead.

(a) In General. A court judgment against the United States or a federally-owned corporation under this chapter can include costs, plus interest at 4 percent a year until it's paid off. The court decides when that interest starts running, but it can never cover the time before the lawsuit was filed. (b) Contract Providing for Interest. There's an exception: if the claim comes from a contract that sets its own interest rate and time period, the court can award interest at that contract rate instead.

the actual law source: uscode.house.gov ↗public domain

(a)In General.—

A judgment against the United States or a federally-owned corporation under this chapter may include costs and interest at the rate of 4 percent per year until satisfied. Interest shall run as ordered by the court, except that interest is not allowable for the period before the action is filed.

(b)Contract Providing for Interest.—

Notwithstanding subsection (a), if the claim is based on a contract providing for interest, interest may be awarded at the rate and for the period provided in the contract.

Source credit: (Pub. L. 109–304, § 6(c), Oct. 6, 2006, 120 Stat. 1519.)

history & why it existsrecord from the source credit

2006Enacted · Pub. L. 109-304 · 120 Stat. 1519

A history note hasn’t been published yet. The record shows enactment by Pub. L. 109-304 on 2006-10-06.

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