CHAPTER 4. PREJUDGMENT INTEREST

IC 34-51-4
    Chapter 4. Prejudgment Interest

IC 34-51-4-1
Applicability of chapter to tort actions
    Sec. 1. This chapter applies to any civil action arising out oftortious conduct.
As added by P.L.1-1998, SEC.47.

IC 34-51-4-2
Applicability of chapter to claims against patient's compensationfund
    Sec. 2. This chapter does not apply to a claim against the patient'scompensation fund under IC 34-18-6, IC 27-12-6 (before its repeal),or IC 16-9.5-4 (before its repeal).
As added by P.L.1-1998, SEC.47.

IC 34-51-4-3
Applicability of chapter to punitive damages claims
        Sec. 3. This chapter does not impose liability for prejudgmentinterest on any part of a judgment that is awarded as punitivedamages.
As added by P.L.1-1998, SEC.47.

IC 34-51-4-4
Liability of state or political subdivision
    Sec. 4. This chapter does not impose liability for prejudgmentinterest on the state or any political subdivision (as those terms aredefined in IC 34-6-2-140 and IC 34-6-2-110).
As added by P.L.1-1998, SEC.47.

IC 34-51-4-5
Applicability of chapter upon timely offer of settlement bydefendants
    Sec. 5. This chapter does not apply if:
        (1) within nine (9) months after a claim is filed in the court, orany longer period determined by the court to be necessary upona showing of good cause, one (1) or more of the parties againstwhom the claim is filed makes a written offer of settlement tothe party receiving a judgment;
        (2) the terms of the offer include payment within sixty (60) daysafter the offer is accepted; and
        (3) the amount of the offer is at least two-thirds (2/3) of theamount of the judgment award.
As added by P.L.1-1998, SEC.47.

IC 34-51-4-6
Applicability of chapter upon timely offer of settlement byplaintiffs
    Sec. 6. This chapter does not apply if:        (1) within one (1) year after a claim is filed in the court, or anylonger period determined by the court to be necessary upon ashowing of good cause, the party who filed the claim fails tomake a written offer of settlement to the party or parties againstwhom the claim is filed;
        (2) the terms of the offer fail to provide for payment of thesettlement offer within sixty (60) days after the offer isaccepted; or
        (3) the amount of the offer exceeds one and one-third (1 1/3) ofthe amount of the judgment awarded.
As added by P.L.1-1998, SEC.47.

IC 34-51-4-7
Award of prejudgment interest as part of judgment
    Sec. 7. The court may award prejudgment interest as part of ajudgment.
As added by P.L.1-1998, SEC.47.

IC 34-51-4-8
Time of accrual of prejudgment interest
    Sec. 8. (a) If the court awards prejudgment interest, the court shalldetermine the period during which prejudgment interest accrues.However, the period may not exceed forty-eight (48) months.Prejudgment interest begins to accrue on the latest of the followingdates:
        (1) Fifteen (15) months after the cause of action accrued.
        (2) Six (6) months after the claim is filed in the court ifIC 34-18-8 and IC 34-18-9 do not apply.
        (3) One hundred eighty (180) days after a medical review panelis formed to review the claim under IC 34-18-10 (orIC 27-12-10 before its repeal).
    (b) The court shall exclude from the period in which prejudgmentinterest accrues any period of delay that the court determines iscaused by the party petitioning for prejudgment interest.
As added by P.L.1-1998, SEC.47.

IC 34-51-4-9
Rate of prejudgment interest
    Sec. 9. The court shall compute the prejudgment interest at thesimple rate of interest determined by the court. The rate set by thecourt may not be less than six percent (6%) per year and not morethan ten percent (10%) per year.
As added by P.L.1-1998, SEC.47.