§ 13-21-101 — Interest on damages

Colorado § 13-21-101

• Jurisdiction: Colorado
• Title 13: Courts
• Art.: Damages

Text

(1) In all actions brought to recover
damages for personal injuries sustained by any person resulting from or occasioned
by the tort of any other person, corporation, association, or partnership, whether by
negligence or by willful intent of the other person, corporation, association, or
partnership and whether the injury has resulted fatally or otherwise, it is lawful for
the plaintiff in the complaint to claim interest on the damages alleged from the
date the suit is filed; and, on and after July 1, 1979, it is lawful for the plaintiff in the
complaint to claim interest on the damages claimed from the date the action
accrued. When such interest is claimed, it is the duty of the court in entering
judgment for the plaintiff in the action to add to the amount of damages assessed
by the verdict of the jury, or found by the court, interest on the amount calculated
at the rate of nine percent per annum on actions filed on or after July 1, 1975, and at
the legal rate on actions filed prior to such date, and calculated from the date the
suit was filed to the date of satisfying the judgment and to include the same in the
judgment. On actions filed on or after July 1, 1979, the calculation must include
compounding of interest annually from the date the suit was filed. On and after
January 1, 1983, if a judgment for money in an action brought to recover damages
for personal injuries is appealed by the judgment debtor, postjudgment interest
must be calculated on the sum at the rate set forth in subsections (3) and (4) of this
section from the date of judgment through the date of satisfying the judgment and
must include compounding of interest annually.

(2) (a) If a judgment for money in an action brought to recover damages for
personal injuries is appealed by a judgment debtor and the judgment is affirmed,
postjudgment interest, as set out in subsections (3) and (4) of this section, is
payable from the date of judgment through the date of satisfying the judgment.

(b) If a judgment for money in an action to recover damages for personal
injuries is appealed by a judgment debtor and the judgment is modified or reversed
with a direction that a judgment for money be entered in the trial court,
postjudgment interest, as set out in subsections (3) and (4) of this section, is
payable from the date of judgment through the date of satisfying the judgment.
This postjudgment interest is payable on the amount of the final judgment.

(3) The rate of postjudgment interest must be certified on each January 1 by
the secretary of state to be two percentage points above the discount rate, which
discount rate must be the rate of interest a commercial bank pays to the federal
reserve bank of Kansas City using a government bond or other eligible paper as
security, and rounded to the nearest full percent. Such annual rate of interest must
be established as of December 31, 1982, to become effective January 1, 1983.
Thereafter, as of December 31 of each year, the annual rate of interest must be
established in the same manner, effective on January 1 of the following year.

(4) The rate at which postjudgment interest accrues during each year is the
rate which the secretary of state has certified as the annual interest rate pursuant
to subsection (3) of this section.

Legislative History

Source: L. 11: p. 296, � 1. C.L. � 6306. CSA: C. 50, � 5. CRS 53: � 41-2-1. C.R.S. 1963: � 41-2-1. L. 75: Entire section amended, p. 569, � 1, effective July 1. L. 79: Entire section amended, p. 316, � 3, effective July 1. L. 82: Entire section amended, p. 227, � 3, effective January 1, 1983. L. 2018: Entire section amended, (SB 18-098), ch. 99, p. 772, � 2, effective August 8.