Costs and interest

46 U.S.C. § 30911

• Title: 46 — Shipping
• Chapter: 309 — SUITS IN ADMIRALTY AGAINST THE UNITED STATES

Text

(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.

History

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

Editorial Notes

In subsection (a), the words "and when the decree is for a money judgment" are omitted as unnecessary. The words "except that interest is not allowable for the period before the action is filed" are substituted for "And provided further, That after June 30, 1932, no interest shall be allowed on any claim prior to the time when suit on such claim is brought as authorized by section 742 of this Appendix" to eliminate unnecessary words.
Subsection (b) is substituted for "or at any higher rate which shall be stipulated in any contract upon which such decree shall be based" in 46 App. U.S.C. 743 and "unless upon a contract expressly stipulating for the payment of interest" in 46 App. U.S.C. 745 (last proviso) for clarity and consistency.