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HOUSE DOCKET, NO. 942         FILED ON: 1/15/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1451

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Kevin J. Kuros

_______________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
              Court assembled:

              The undersigned legislators and/or citizens respectfully petition for the passage of the accompanying:

An Act reducing interest liability in treble damage settlements.

_______________

PETITION OF:

 

Name:

District/Address:

Kevin J. Kuros

8th Worcester

Donald F. Humason, Jr.

4th Hampden

Keiko M. Orrall

12th Bristol

John P. Fresolo

16th Worcester

Bruce E. Tarr

First Essex and Middlesex

Ryan C. Fattman

18th Worcester


HOUSE DOCKET, NO. 942        FILED ON: 1/15/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1451

By Mr. Kuros of Uxbridge, a petition (accompanied by bill, House, No. 1451) of Kevin J. Kuros and others for legislation to change the interest rate on treble damages.  The Judiciary. 


The Commonwealth of Massachusetts
 

 

An Act reducing interest liability in treble damage settlements.
 

              Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

              SECTION 1. Section 9 of chapter 93A of the General Laws, as appearing in the 2010 Official Edition, is hereby amended by inserting at the end thereof the following new subsection:--

              (9)  In any action based on a violation of this section resulting in a verdict, finding, or order for judgement of treble damages, interest shall be added by the clerk of the court to the amount of damages at no more than the rate equal to the weekly average 1-year constant maturity Treasury yield for the period from the date of the breach or demand.

              SECTION 2. Section 6B of chapter 231 of the General Laws, as appearing in the 2010 Official Edition, is hereby amended by inserting at the end thereof the following:--

              In all actions based on a violation of Chapter 93A, upon a verdict, finding or order for judgment for treble damages, interest shall be added by the clerk of the court to the amount of damages at no more than the rate equal to the weekly average 1-year constant maturity Treasury yield for the period from the date of the breach or demand.

              SECTION 3. Section 6C of chapter 231 of the General Laws, as appearing in the 2010 Official Edition, is hereby amended by inserting at the end thereof the following:--

              In all actions based on a violation of Chapter 93A, upon a verdict, finding or order for judgment for treble damages, interest shall be added by the clerk of the court to the amount of damages at no more than the rate equal to the weekly average 1-year constant maturity Treasury yield for the period from the date of the breach or demand.
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