Ind. Code § 24-4.6-1

Section 24-4.6-1-103 compensates a creditor for the lost use of wrongfully withheld money and requires demand for the principal sum, including any increased principal formed by a lawful conversion of interest into principal.

Indiana Tel. Corp. v. Indiana Bell Tel. Co. · filed 1977-03-07

IC 24-4.6-1-103 allows compensation to the creditor for his lost use of money which has been wrongfully withheld from him. The demand which is required is a demand for the principal sum as a matter of notice to the debtor. If interest sought is to be computed upon an amount which has been transformed from simple interest into additional principal by virtue of a lawful agreement between the creditor and the debtor, a demand for the increased principal must be made.

Section 24-4.6-1-103 allows 8% interest on qualifying money due under a written instrument, and the court applied it to insurance proceeds from the beneficiary’s demand until the insurer paid or tendered the proceeds into court.

United Farm Bureau Family Life Insurance v. Fultz · filed 1978-04-25103

According to IC 24-4.6-1-103, supra, interest at the rate of eight per cent per annum was properly assessed until the proceeds of the policy had actually been paid either to Chris or to the court in an interpleader action.

Section 24-4.6-1-103 provides eight percent prejudgment interest on a fixed and ascertainable purchase-price damages amount from the date of revocation and demand.

Hudson v. Dave McIntire Chevrolet, Inc. · filed 1979-05-29

Moreover, such buyer is entitled to eight per cent (8%) prejudgment interest, pursuant to IC 24-4.6-1-103 from the date of revocation and demand on the entire amount of his purchase price which was, of course, fixed and ascertainable on said date.

Section 24-4.6-1-103 provides 8% interest for specified written instruments and accounts, but it is not the exclusive source of prejudgment interest.

Moridge Manufacturing Co. v. Butler · filed 1983-07-20

In this case the parties correctly acknowledge that the statute does not apply. Indiana has, however, long held that this statute is not the exelusive authority for pre-judgment interest.

The statute permits prejudgment interest in specified circumstances, but this record did not establish a statutory ground for an award.

Wilson v. Jenga Corp. · filed 1986-03-24

Prejudgment interest may be awarded by statute, IC 24-4.6-1-103, or under the common law. ... The record does not establish a ground for prejudgment interest under IC 24-4.6-1-108 nor a sum capable of ascertainment by fixed rules of evidence and known standards of value and thus does not support an award of interest.

Section 24-4.6-1-103 allows prejudgment interest on claims based on written instruments, so it does not apply to an oral contract.

Indianapolis MacHinery Co., Inc. v. Cohen · filed 1978-08-08103

We agree that the oral resolution of IMC’s board of directors, which gave Cohen the right to participate in IMC’s pension plan, was appropriately held by the trial court to be an oral contract and, thus, outside the provisions of IC 24-4.6-1-103, supra.

Section 24-4.6-1-103(a) requires prejudgment interest on money due under a written instrument when the claim and amount are ascertainable, and an insurance policy can satisfy the written-instrument requirement.

Town & Country Mutual Insurance Co. v. Savage · filed 1981-06-15(a)

The statute is couched in mandatory terms, using the word “shall,” and subsection (a) requires an “instrument in writing” in order for interest to be allowable. ... We are presented with a writing embodying the $8,000 theft insurance contract in the form of the policy, which includes, under the heading “Section I — Property Coverage” the entry of $8,000 as “Coverage B — Personal Property.” Although Town & Country disputes the presence of theft coverage, the amount of such insurance is unmistakably manifested on the face of the policy. This would seem to be sufficient as “an instrument in writing.” ... Our holding as to pre-judgment interest thus stands on two legs, one the statute (I.C. 24-4.6-1-103), and the other tort and damages case law.

Section 24-4.6-1-103 authorizes interest from the date an itemized bill is rendered and payment is demanded on an account stated, requiring proof of the account stated and the date the amount became due.

Contech Architects & Engineers, Inc. v. Courshon · filed 1979-03-29(b)

The statute authorizes interest “from the date an itemized bill shall have been rendered and payment demanded on an account stated . . . .” ... MEP had the burden to prove that the account was stated. ... Absent this information, the trial judge would be unable to award interest in the manner called for by IC 24r-4.6-1-103. ... Pursuant to IC 24-4.6-1—103(b), Environmental was entitled to 8% interest from March 17, 1975, until the date of judgment, February 23, 1977.

Subsection 108(b) allows 8% annual interest on an account stated from the date an itemized bill is rendered and payment is demanded, but it does not apply unless the parties agreed that the account and balance were correct.

Thomas J. Henderson, Inc. v. Leibowitz · filed 1986-03-26(b)

He argues that such interest is due under the account stated provision of IC 24-4.6-1-108(b) which allows interest at the rate of eight percent (8%) per annum "... from the date an itemized bill shall have been rendered and payment demanded on an account stat ed...." (Burns Code 1982 Repl.) ... We do not agree that an account stated existed in this case. ... For this reason we hold that the trial court did not err in failing to award prejudgment interest.

Section 24-4.6-1-101 limits interest on a money judgment to eight percent per annum, and that limit applies even when the judgment is payable in installments.

Hasty v. Hasty · filed 1981-11-16101

“Payment of a money judgment may be delayed for any number of reasons. And that the trial court entered judgment for payment in installments is of no moment. The judgment is nevertheless a judgment upon which interest is limited by statute.”

Section 24-4.6-1-102 sets prejudgment interest at eight percent per year, while § 24-4.6-1-101 sets postjudgment interest on an award of damages at twelve percent per year.

Lafayette Production Credit Ass'n v. Wilson Foods Corp. · filed 1987-10-14101, 102

The rate of prejudgment interest is set by statute at eight percent per annum under I.C. 24-4.6-1-102. ... Postjudgment interest on an award of damages is at the rate of twelve percent per annum pursuant to I.C. 24-4.6-1-101.

Section 24-4.6-1-101 governs interest on money judgments, not commission orders, while section 24-4.6-1-103 permits interest on money had and received for another and retained without consent, with its statutory rate serving as a reasonable measure for simple interest.

N. Ind. Pub. Serv. Co. v. CITIZENS ACT. COAL. OF IND. · filed 1989-12-13101, 103

Interest on a money judgment has never been recognized by the common law, but in Indiana under I.C. 24-4.6-1-101, as in most states, interest accrues on a money judgment from the time a verdict is returned. However, we have long held that commission orders are not judgments, State ex rel. Indianapolis Water Co. v. Niblack (1959), 240 Ind. 32, 161 N.E.2d 377; Valparaiso Lighting Co. v. Public Serv. Comm'n (1920), 190 Ind. 253, 129 N.E. 13, so CAC may not rely on the judgment interest portion of the statute to support its argument that NIPSCO's ratepayers are entitled to interest on the money withheld from them. On the other hand, the statute does provide for interest on "money had and received for the use of another and retained without his consent." I.C. 24-4.6-1-103. This provision would allow recovery of interest, from the time a demand for the return of the funds is made, on funds mistakenly paid to another. American Mutual Life Ins. Co. v. Bertram (1904), 163 Ind. 51, 70 N.E. 258. ... Furthermore, we believe that the statutory rate set forth in 24-4.6-1-103, provides, in this instance, a reasonable gauge of a fair return on one's funds when held by another. Therefore, simple interest should be calculated on the refund at a rate of eight percent from the date any such funds were paid to NIPSCO.

Section 101 sets a ten-percent annual interest rate for money judgments when no contract rate applies.

United Farm Bureau Mutual Insurance Co. v. Ira · filed 1991-08-27101

The trial court did not err in applying the statutory rate of ten percent which applies to a judgment for money under IC 24-4.6-1-101.

Section 24-4.6-1-101 sets post-judgment interest for money judgments, but does not apply to orders transferring property.

Paxton v. Paxton · filed 1999-04-21101

By its terms, the statute applies only to judgments for money. A money judgment “adjudges the payment of a sum of money, as distinguished from one directing an act be done or property to be restored or transferred.” Black’s Law DICTIONARY 844 (6th ed.1990). Here, the $19,-940.00 allocated to Husband by the decree of dissolution was not a money judgment, but an order for transfer of property, namely the in-kind asset allocation of a portion of Wife’s IRA account.

Section 24-4.6-1-101 generally requires interest on money judgments, but a deferred dissolution judgment does not accrue mandated interest from the date of the decree; interest may be awarded from the date payment becomes due if it is not made.

Marriage of Rovai v. Rovai · filed 2008-08-04101

Both parties cite to I.C. 24-4.6-1-101, which provides, “Except as otherwise provided by statute, interest on judgments for money whenever rendered shall be from the ... finding of the court until satisfaction at: [eight percent].” ... The lesson derived from Williamson is therefore that if the due date for payment of the judgment, as set forth in the judgment itself, is delayed to some date in the future, the court may award post-judgment interest from the time of the due date if the payment is not made. Interest is not mandated upon the judgment from the time of the decree.

Section 24-4.6-1-101 provides 8% annual postjudgment interest on a money judgment when no contract rate applies, including agreed child-support arrearage from the date of the agreement until a later higher rate is imposed.

Calloway v. Freismuth · filed 2009-02-17(2)

Because the back support was agreed upon and imposed during the July hearing, we find that the normal 8% post judgment interest should apply from July 11, 2001, until May 19, 2005, when the trial court applied the 18% interest rate. See I.C. § 24-4.6-1-101. Therefore, we remand to the trial court to calculate the interest on the $4,000.00 back support as set forth herein.

Section 24-4.6-1-101 provides that post-judgment interest applies only to judgments for money.

Harshaw v. Harshaw · filed 2021-02-04

As Don correctly notes, under Indiana law this was necessarily a money judgment as post-judgment interest applies only to “judgments for money.” Ind. Code § 24-4.6-1-101.

Section 24-4.6-1-101 provides that interest on a money judgment runs from the date of the verdict or court finding until satisfaction, generally at the contract rate capped at 8% or at 8% absent a contract.

Prime Insurance Co. v. Wright · filed 2021-11-30101

The Allen Superior Court entered judgment in favor of Wright on his personal injury claim and Indiana law provides that he is entitled to recover interest and costs as part of that judgment. Accordingly, summary judgment in granted in favor of Wright on this issue.

Section 24-4.6-1-101 provides that, unless another statute applies, interest on a money judgment runs from the verdict or court finding until satisfaction at the contract rate up to eight percent, or at eight percent when there is no contract.

Prime Insurance Co. v. Wright · filed 2022-04-19(1)-(2)

The Allen Superior Court entered judgment in favor of Wright on his personal injury claim and Indiana law provides that he is entitled to recover interest and costs as part of that judgment. Accordingly, summary judgment in granted in favor of Wright on this issue.

The statute provides an 8% annual statutory interest rate for the judgment-related interest awarded here.

BARRETT v. INVICTUS REAL ESTATE GROUP, LLC · filed 2022-05-11

The statutory interest rate is 8% per year, Ind. Code § 24-4.6-1-102, which does not compound absent an underlying agreement of the parties, Firstmark Std. Life Ins. v. Goss, 699 N.E.2d 689, 693 (Ind. Ct. App. 1998).

Section 24-4.6-1-101 requires interest on money judgments from the date of the verdict or court finding until satisfaction; when the parties agreed to a contractual rate, post-judgment interest may be awarded at that rate.

AMERICAN COMMERCIAL BARGE LINE LLC v. IWC OIL & REFINERY, LLC · filed 2025-03-14(1)

Indiana Code § 24-4.6-1-101 provides, in relevant part, "[e]xcept as otherwise provided by statute, interest on judgments for money whenever rendered shall be from the date of the return of the verdict or finding of the court until satisfaction . . . ." Ind. Code § 24-4.6-1-101. "The statutory language is mandatory: interest 'shall be' rendered from the date of judgment."

Section 24-4.6-1-101 generally requires interest on money judgments from the date of the verdict or finding until satisfaction, subject to the contract-rate and ten-percent limits, but the court held no post-judgment interest was due because Marshall retook the property upon default and was not deprived of it for the statutory period.

Marshall v. Bird · filed 1991-08-29

The evidence is undisputed that Marshall retook possession of the subject property upon default, in accordance with the provisions of the land contract. Marshall was not deprived of his property for the statutory period, and accordingly, he is not entitled to post-judgment interest. The trial court did not err in so ruling.

The statute permits prejudgment interest on an order requiring payment of a specific sum, with the statutory rate applying when the parties have not specified a different prejudgment-interest rate.

Cheng Song v. Thomas Iatarola and Theresa Iatarola · filed 2017-05-10101

Indiana Code section 24-4.6-1-101 provides for “interest on judgments for money whenever rendered.” ... Following the jury’s verdict, the trial court ordered the Iatarolas to pay a sum of money to Song and stated the specific amount due—this order is the very definition of a money judgment. See Hilliard, 916 N.E.2d at 694. Because Song was awarded a money judgment, and because the amount could be ascertained as of a particular time, prejudgment interest was warranted.

The section does not make deferred installments in a lump-sum property division accrue interest automatically; interest is payable when an installment becomes delinquent unless the decree specifically orders interest.

Van Riper v. Keim · filed 1982-07-07

Hasty also accords with Winemiller. In Hasty, the trial court awarded interest at the rate of 11%% on the lump sum payable in installments. This court struck down any award of interest in excess of the interest allowed by I.C. 24-4.6-1-101. However, in so doing the Hasty decision only approved the trial court’s award of interest. It did not hold I.C. 24-4.6-1-101 required the deferred installments to bear interest. In fact, the Hasty decision relied upon Hatfield v. Higgins, (1941) 108 Ind.App. 681, 31 N.E.2d 650, a decision which holds interest is payable under a predecessor of I.C. 24-4.-6-1-101 only upon default of installment payments from the date they became due until they were paid. Hatfield cited, as authority, Winemiller. Therefore, we conclude a lump sum division of property, payable in installments, does not bear interest on the unpaid balance, unless, and until, an installment is delinquent or unless the decree specifically orders that the sum bear interest.

Section 24-4.6-1-102 supplies the default interest rate when the parties have not agreed on a rate; an agreed rate, evidenced here by the invoices and the buyer's lack of objection, may govern instead.

McClure Oil Corp. v. Murray Equipment, Inc. · filed 1987-11-19102

“Although the record does not disclose a specific agreement concerning the terms for the sale of the tank farm equipment, there was other evidence in the record to support the trial court's award of interest at 1%% per month. ... At trial, McClure Oil acknowledged receipt of the invoices. However, McClure Oil at no time objected to the invoices' terms. From this evidence, we hold that there was sufficient evidence to warrant the trial court's award of interest at 1%/%% per month as of January 15, 1984.”

When a contract does not specify an interest rate, the statute supplies the permissible rate for prejudgment interest; the court applied an 8% rate here.

Sand Creek Country Club, Ltd. v. CSO Architects, Inc. · filed 1991-12-16

Prejudgment interest is computed from the time the principal amount was demanded or due and is allowable at the permissible statutory rate when no contractual provision specifies the interest rate. Monroe Cty., supra; IC 24-4.6-1-103 (1988). ... Because the amount of damages was ascertainable by April 27, 1989, the trial court erred in failing to award prejudgment interest from that date as part of the judgment. ... Interest should be computed at the statutory rate of 8% from April 27, 1989 to the date of judgment on the amount of $33,-649.28.

Section 24-4.6-1-103 does not authorize statutory interest when there is no settlement on a qualifying written instrument and no account stated between the parties.

Oil Supply Co. v. Hires Parts Service, Inc. · filed 1996-08-30103

As there is no settlement on an instrument in wiiting and no account stated between the parties in this case with respect to the shipment of goods, I.C. § 24-4.6-1-103 does not apply to these facts.

Section 24-4.6-1-102 sets the prejudgment interest rate at eight percent per year.

Federal Insurance v. Stroh Brewery Co. · filed 1998-12-22

The prejudgment interest rate is set by statute at eight percent a year. I.C. 24-4.6-1-102.

When the parties have not agreed on an interest rate, Section 24-4.6-1-102 supplies an eight-percent rate for prejudgment interest in a contract action.

The Care Group Heart Hospital, LLC v. Roderick J. Sawyer, M.D. · filed 2018-03-23

Where parties have not agreed on an interest rate, Indiana Code section 24-4.6-1-102 (2017) supplies a rate of eight percent.

Ind. Code § 24-4.6-1-102 supplies an eight-percent annual interest rate when the parties have not agreed on a rate, and that statutory rate applies to ascertainable prejudgment interest on a contract claim.

Thor Electric, Inc. v. Oberle & Associates, Inc. · filed 2000-12-18

Therefore, we reverse and remand this issue with instructions to apply Indiana Code Sections 24-4.6-1-102 and - 103 to the computation of prejudgment interest.

Section 101 sets the prejudgment-interest rate at eight percent when the parties' contract does not specify a different rate.

DeGood Dimensional Concepts, Inc. v. Wilder · filed 2019-11-12101

The amount is computed from the time the principal amount was demanded or due and is allowable at the permissible statutory rate when no contractual provision specifies the interest rate. ... The current interest rate is eight percent when there is no contract by the parties specifying a different interest rate. Ind. Code § 24-4.6-1-101.

Section 24-4.6-1-102 supplies an eight-percent-per-year interest rate when the parties have not agreed on an interest rate.

BRC Rubber & Plastics Inc v. Continental Carbon Company · filed 2019-12-03102

Where the parties have not agreed to an interest rate, Indiana law supplies a rate of eight percent per annum.2 Care Grp. Heart Hosp., LLC, 93 N.E.3d at 757 (citing Ind. Code § 24-4.6-1-102); see also Firstmark Standard Life Ins. Co., 699 N.E.2d at 693.

When the parties have not agreed on an interest rate, Section 24-4.6-1-102 supplies an eight-percent annual rate for prejudgment interest.

BRC Rubber & Plastics, Incorpo v. Continental Carbon Company · filed 2020-11-25102

Where the parties have not agreed to a specified interest rate, Indiana law directs courts to use the rate of 8% per year.

Section 24-4.6-1-102 directs courts to use an 8% annual interest rate when no contractual interest rate is specified.

BRC Rubber & Plastics, Incorpo v. Continental Carbon Company · filed 2020-11-25102

Where the parties have not agreed to a specified interest rate, Indiana law directs courts to use the rate of 8% per year. Care Group Heart Hospital, LLC v. Sawyer, 93 N.E.3d 745, 757 (Ind. 2018), citing Ind. Code § 24-4.6-1-102.

Section 24-4.6-1-102 entitles a claimant on an open account or written contract for the purchase of goods to 8% annual interest for unreasonable payment delay when the parties specified no interest rate.

Eagle Signal Controls v. Midwestern Electric, Inc. · filed 1988-04-21102

A claimant on an open account or on a written contract for the purchase of goods is entitled to interest at 8% per annum for unreasonable delay in payment where no amount is specified by the parties. IC 24-4.6-1-102; Sanderson v. Trump Mfg. Co. (1913), 180 Ind. 197, 102 N.E. 2 (written contract); Young v. Dickey (1878), 63 Ind. 31 (open account). ... It follows that Eagle was entitled to pre-judment interest at 8% per annum from October 24, 1982 until the date of judgment on the balance due Eagle from Electric in the amount of $86,695.61.

Section 24-4.6-1-101 provides for postjudgment interest at twelve percent, calculated from the date of the trial court’s order entered on the jury verdict.

Kellogg v. City of Gary · filed 1990-11-08

The citizens are entitled to postjudgment interest on this award at the rate of twelve percent (12%), calculated from April 6, 1983, the date of the trial court's order entered on the jury verdict, pursuant to IC 24-4.6-1-101 (Burns 1981).

Section 24-4.6-1 makes 8% postjudgment interest the default when the parties have not agreed on an interest rate; an agreed rate controls when one exists.

Grose v. Bow Lanes, Inc. · filed 1996-02-21(101), (102)

IND.CODE § 24-4.6-1-101 (1993) provides: ... (2) an annual rate of eight percent (8%) if there was no contract by the parties. ... Tom contends that the trial court erred in awarding Bow Lanes postjudgment interest at the rate of 8% per annum because in its complaint, Bow Lanes alleged that Tom agreed to pay the December 1991 loan at an interest rate of 5% annum and the January 1992 loans at an interest rate of 4.5% an-num. ... Because we conclude that the trial court properly, granted summary judgment to Bow Lanes on the grounds that these payments were loans, interest should be awarded in accordance with the agreed rate as designated by Bow Lanes in its complaint. Accordingly, we reverse the trial court’s award of postjudgment interest at a rate of 8% and remand this matter to the trial court with instructions .to award Bow Lanes post-judgment interest at a rate of 5% for the December 1991 loan and at a rate of 4.5% for the January 1992 loans.

Section 24-4.6-1 provides for 8% postjudgment interest unless the parties’ contract specifies a lower rate, and an award of postjudgment interest is not discretionary.

Weiskopf v. Tiny Cocoons, Inc. · filed 2024-12-03

Indiana state law provides for an 8% postjudgment interest rate, unless the parties have a contract which provides for a lower rate. Ind. Code § 24-4.6-1-101; Ind. Code § 24-4.6-1-104. An award of postjudgment interest is not discretionary. Id. Therefore, postjudgment interest at the rate of $21.46 per day from December 3, 2024 through the date of payment will accrue.

Indiana law provides an 8% postjudgment interest rate unless the parties have a contract providing a lower rate, and an award of postjudgment interest is mandatory.

Weiskopf v. Tiny Cocoons, Inc. · filed 2025-08-28

In addition, Indiana state law provides for an 8% postjudgment interest rate, unless the parties have a contract which provides for a lower rate. Ind. Code § 24-4.6-1-101; Ind. Code § 24-4.6-1-104. An award of postjudgment interest is not discretionary. Id.

Section 24-4.6-1-108 supplies a general interest rate, but that rate does not govern these tax-refund payments when the more specific tax-refund statute applies.

General Motors Corp. v. Indiana Department of State Revenue · filed 1991-09-11

Statutory authority does not exist providing an interest rate specifically applicable to tax-related refunds of excess deficiency interest payments. The court therefore must determine whether IND.CODE 24-4.6-1-108, the general interest statute, or whether IC 6-8.1-9-2(c) (1980), as GM asserts, provides the appropriate interest rate for such refunds. ... The decision to apply the general interest rate in NIPSCO was made in the absence of a more relevant statutory rate and in American Motorists' was made without the Tax Administration Act's clear legislative intent to establish uniformity. ... NIPSCO and American Motorists' therefore do not direct the court to apply the general interest rate to refunded excess deficiency interest payments. ... The court therefore finds GM is entitled to refund interest on its refunded deficiency interest overpayment at the rate prescribed by IC 6-8.1-9-2(c).

Section 24-4.6-1-101 provides for interest on money judgments from the date of the court’s finding and sets the applicable rate; here, post-judgment interest began on the remand judgment date and accrued at 8%.

Eden United, Inc. v. Short · filed 1995-07-07

Indiana law provides for interest on money judgments from the date of the finding of the court and sets the rate for such interest. Ind.Code Ann. § 24-4.6-1-101 (Burns Supp. 1994). ... Therefore, post-judgment interest would properly begin on the date of the remand court’s order, February 25, 1994. Because our decision affirms a judgment for Short’s lost profits on sale of the first one-half of Eastwind, that date will still trigger the commencement of interest accrual. ... Short concedes that the amended statute, effective January 1, 1994, see 1993 Ind.Acts 208 § 6, reduced Indiana’s post-judgment interest rate from 10% to 8%. Post-judgment interest should be at the rate of 8%.

Section 24-4.6-1-101 caps post-judgment interest on money judgments at eight percent per year.

Landmark Health Care Associates L.P.-1989-A v. Bradbury · filed 1996-10-02101

I.C. § 24-4.6-1-101 states in part: "interest on judgments for money whenever rendered shall be from the date of the ... finding of the court until satisfied at a ... rate which shall not exceed an annual rate of eight percent (8%)." Public Law 208-1998 § 1, which amended I.C. § 24-4.6-1-101, provided that this amendment become effective on January 1, 1994, more than two months prior to the trial court's order. ... The statutory maximum applicable to this case for post-judgment interest is eight percent. Therefore, the trial court erred as a matter of law by ordering Landmark to pay interest at a rate of ten percent on the judgment.

The statute requires interest on money judgments from the date of the verdict or court finding until satisfaction, unless another statute provides otherwise, and it applies to medical-malpractice judgments.

Poehlman v. Feferman · filed 1999-10-07

Indiana Code § 24-4.6-1-101 (“Post-Judgment Interest Statute”) provides in relevant part that “[e]xcept as otherwise provided by statute, interest on judgments for money whenever rendered shall be from the date of return of the verdict or finding of the court until satisfaction at [a specified interest rate].” ... In the absence of express legislative intent to discount the payment of debts owed to medical malpractice victims, we find that the payment incentives undergirding Indiana’s Post-Judgment Interest Statute are fully applicable to a judgment rendered in any amount under the Act, against both the qualified health care provider and the Fund.

Section 24-4.6-1-101 supplies an annual 8% ceiling for judgment interest when the statute applies, while a qualifying contract rate may govern up to that ceiling.

Wenzel v. Hopper & Galliher, P.C. · filed 2005-07-19

Rather the statute permits a trial court to award interest, but not more than the 8% rate of interest for judgments specified in Ind.Code § 24-4.6-1-1.1.

Section 24-4.6-1-101 does not require post-judgment interest on monetary components within a dissolution decree; the trial court may award interest or not when making a just and reasonable property division.

Rovai v. Rovai · filed 2009-09-02101

We conclude that the statute on civil post-judgment interest does not compel that interest run on the various internal elements of dissolution decrees. Rather, the dissolution statutes confer upon trial courts the authority to order interest or not in the course of fashioning a just and reasonable division of property.

Section 24-4.6-1-101 requires post-judgment interest on a money judgment to accrue from the verdict or court finding until the judgment is satisfied, at 8% absent a contractual rate; it does not allow interest to continue accruing after payment or to compound on interest.

Pac-Van, Inc. v. Wekiva Falls Resort · filed 2012-09-11101

The governing statute provides, in relevant part, “interest on judgments for money whenever rendered shall be from the date of the return of the verdict or finding of the court until satisfaction at . . . an annual rate of eight percent (8%), if there was no contract by the parties.” Ind. Code § 24-4.6-1-101 (1993). ... Here, the jury rendered its verdict on April 15, 2011, and Pac-Van paid the judgment on June 2, 2011, forty-eight days later. Under the plain language of Section 24-4.6-1-101, post-judgment interest accrued during that period of time.

Indiana Code § 24-4.6-1-104 applies only when the parties have agreed to pay interest; if they have not agreed on a complete method of computation, the statute supplies the method.

Firstmark Standard Life Insurance v. Goss · filed 1998-08-20(d)(2)

The entire section commences with the direction that “The parties may agree upon any method of computing interest on a loan or forbearance....” We think this language was also intended to provide a limitation. That is to say, in order to invoke the statute, the parties must themselves have agreed to the payment of interest.

Section 24-4.6-1-103 provides an eight-percent annual rate for prejudgment interest on qualifying damages.

Dana Companies, LLC v. Chaffee Rentals · filed 2013-12-19103

Per Ind. Code § 24-4.6-1-103, an interest rate of eight percent (8%) per year for forty-eight (48) months is allowed on the damages for a prejudgment interest award of $1,956.32.

Section 24-4.6-1-103 does not authorize prejudgment interest absent an agreement that the balance is correct, while § 24-4.6-1-102 merely supplies a default interest rate and is not an independent basis for prejudgment interest.

Allstate Insurance Co. v. Dana Corp. · filed 2000-11-09

In this case, Dana is not entitled to prejudgment interest pursuant to Ind. Code § 24-4.6-1-103 because there was no agreement between Allstate and Dana that the “balance struck” by Dana was correct. ... We agree with Allstate that the statute, by itself, does not authorize a trial court to award prejudgment interest. The language of the statute is unambiguous, and it merely establishes a default interest rate for courts to use when the parties cannot agree on a proper rate.

When the parties do not agree on an interest rate, loans or forbearances bear interest at eight percent per annum until payment of judgment.

Davis v. Davis · filed 2008-06-30(102)

IC 24-4.6-1-102 provides: “When the parties do not agree on the rate, interest on loans or forebearances of money, goods or things in action shall be at the rate of eight percent (8%) per annum until payment of judgment.” Here, Brian does not deny that the $25,000.00 was a loan from the Trust. He does not contest that the money should be repaid with interest. ... We find no evidence in the record before us, save the Trustee’s assertion of discretion, to support the trial court’s conclusion that 4.5% was the appropriate interest rate. ... Finding the trial court’s determination that Brian should pay 4.5% clearly erroneous, we reverse and remand this issue for a determination of the amount of interest Brian must pay on these loans when calculated at an 8% interest rate.

Section 24-4.6-1-101(2) provides 8% annual post-judgment interest on a money judgment when no contract rate applies.

In Re Paternity of LFC · filed 2009-02-17(2)

Because the back support was agreed upon and imposed during the July hearing, we find that the normal 8% post judgment interest should apply from July 11, 2001, until May 19, 2005, when the trial court applied the 18% interest rate. See I.C. § 24-4.6-1-101.

Section 24-4.6-1-101 provides that post-judgment interest on a modified award runs from the date of the original verdict, rather than the date the verdict was modified.

International Business Machines Corporation v. State of Indiana, acting on behalf of the Indiana Family & Social Services Administration · filed 2018-09-28101

Citing I.C. § 24-4.6-1-101, our supreme court concluded that post-judgment interest on a modified award should run from the date of the original verdict and not from the date that the verdict was modified. Id. at 534-35. ... Accordingly, as no appellate decision reversed IBM’s judgment on its Complaint, IBM is entitled to post-judgment interest “from the date of the original verdict.” See Beam, 765 N.E.2d at 534.

The statute does not require post-judgment interest on the monetary elements of a dissolution decree; the trial court may award interest or not when fashioning a just and reasonable division of marital property.

Dina Hasten Cohen v. Cohen · filed 2019-03-18

We conclude that the statute on civil post-judgment interest does not compel that interest run on the various internal elements of dissolution decrees. Rather, the dissolution statutes confer upon trial courts the authority to order interest or not in the course of fashioning a just and reasonable division of property.

Section 24-4.6-1-101 generally makes post-judgment interest accrue from the date of the verdict or finding until satisfaction, but it does not govern when another statute specifically controls interest on money due from the State.

International Business Machines Corporation v. State of Indiana, acting on behalf of the Indiana Family & Social Service · filed 2019-06-26(101)

In Beam this Court looked at Indiana Code section 24-4.6-1-101 and addressed whether post-judgment interest on a modified award runs on the amount after modification by the reviewing court or the original amount. ... Indiana Code section 24-4.6-1-101 provides that post-judgment interest accrues back to the "date of the return of the verdict or finding of the court until satisfaction. . . ." ... But here, it is not Indiana Code section 24-4.6-1-101 1 that governs, but Indiana Code section 34-13-1-6 because we are dealing with a sum of money due from the State.

Section 24-4.6-1-101 provides the general rule that post-judgment interest accrues from the date of the verdict or finding until satisfaction, unless another statute provides otherwise.

International Business Machines Corporation v. State of Indiana, acting on behalf of the Indiana Family & Social Service · filed 2019-10-10

Indiana Code section 24-4.6-1-101 provides that post-judgment interest accrues back to the "date of the return of the verdict or finding of the court until satisfaction. . . ." ... But here, it is not Indiana Code section 24-4.6-1-101 1 that governs, but Indiana Code section 34-13-1-6 because we are dealing with a sum of money due from the State.

Sections 101 and 102 provide 8% annual prejudgment and post-judgment interest, and the interest does not compound absent an agreement of the parties.

TURENTINE v. AMERICAN GLOBAL MANAGEMENT, LLC · filed 2020-02-04101, 102

The statutory interest rate is 8% per year, Ind. Code § 24-4.6-1-102, which does not compound absent an underlying agreement of the parties, Firstmark Std. Life Ins. v. Goss, 699 N.E.2d 689, 693 (Ind. Ct. App. 1998). Mr. Turentine is also entitled to post-judgment interest at a rate of 8% per year. Ind. Code § 24-4.6-1-101; Ind. Code § 24-4.6-1-102 (setting post-judgment interest rate at 8%); Johnson v. Hix Wrecker Serv., Inc., 112 N.E.3d 1132, 1136 (Ind. Ct. App. 2018) (affirming trial court’s granting of post-judgment interest on claim under the Wage Payment Statute); see also Caldwell v. Black, 727 N.E.2d 1097, 1100 (Ind. Ct. App. 2000) (noting that “post-judgment interest is statutorily mandated for money judgments”).

Section 24-4.6-1-101 sets post-judgment interest on money judgments at 8% unless a contract provides otherwise, but that statutory rate does not apply in dissolution proceedings.

Perrelle v. Laura Perrelle (mem. dec.) · filed 2020-11-30101

There is a statute that sets post-judgment interest “on judgments for money” at 8% (unless a contract says otherwise), Ind. Code § 24-4.6-1-101, but our Supreme Court has declined to “transport[]” that statute into “the equitable world of dissolutions.” Rovai v. Rovai, 912 N.E.2d 374, 376 (Ind. 2009). “Rather, the dissolution statutes confer upon trial courts the authority to order interest or not in the course of fashioning a just and reasonable division of property.” Id. (emphasis added). Here, the trial court offered no rationale for choosing 8% post-judgment interest, which suggests it simply defaulted to the (inapplicable) statutory rate.

Section 24-4.6-1-101 sets the statutory interest rate at 8% when the parties’ contract does not specify a different rate.

Pines of Greenwood, LLC and Arbor Homes, LLC v. The Village Pines at the Pines of Greenwood Homeowners' Association, Inc · filed 2020-11-10

Ind. Code § 24-4.6-1-101 provides for “interest on judgments for money whenever rendered.” ... It is computed from the time the principal amount was demanded or due and is allowable at the permissible statutory rate when no contractual provision specifies the interest rate. ... The current statutory interest rate is 8% when there is no contract by the parties specifying a different interest rate. ... Based on these facts and circumstances before us, and where the contract – here the Covenants – did not specify a rate, we find that the statutory rate of 8% should be used. I.C. § 24-4.6-1-101.

When a contract does not specify an interest rate, Indiana law requires courts to use an 8% annual rate for prejudgment interest.

Vale Park Animal Hospital LLC v. Project 64 LLC · filed 2023-01-26§ 24-4.6-1-102; § 24-4.6-1-104

“Where the parties have not agreed to a specified interest rate, Indiana law directs courts to use the rate of 8% per year.” ... “Because there is no relevant provision in the parties’ contract, prejudgment interest will be calculated at the rate of 8% per year. Accordingly, Vale Park is entitled to a total of $64,237.92 in prejudgment interest. See Ind. Code § 24-4.6-1-104.”

Section 102 sets an 8% prejudgment-interest rate when the parties have not agreed on a rate, while section 103 governs when that interest begins to accrue.

Roland v. Johnson (In Re Johnson) · filed 1990-02-23102, 103

However, Indiana courts have awarded prejudgment interest to a tort claimant as an element of damages. Indiana Code 24-4.6-1-102 governs the rate of prejudgment interest in Indiana in absence of an agreement and provides as follows: ... When the parties do not agree on the rate, interest on loans or forbearances of money, goods or things in action shall be at the rate of eight percent (8%) per annum until payment of judgment. ... The expenses that the Plaintiffs incurred as a direct and proximate consequence of the Debtor’s wrongful acts are pecuniary damages that are complete and ascertainable, and thus the Plaintiffs shall be awarded 8% prejudgment interest thereon. The final issue is the date of accrual of the prejudgment interest pursuant to I.C. 24-4.6-1-103 as it was not proven by the Plaintiffs when Plaintiffs made a demand on the Debtor to pay them prior to the filing of their complaint. (Although the adversary complaint asserts a previous suit was filed in the state court on April 24, 1985, this was not proven up at trial). In this situation, the interest shall accrue from the date the Plaintiffs’ complaint was filed on February 12, 1988.

Section 101 sets an 8% prejudgment-interest rate when the contract does not specify a different rate.

Hess v. Biomet, Inc. · filed 2022-06-28(101)

If prejudgment interest is awarded, an interest rate of 8% applies if there is no contract providing for a different interest rate. Song v. Iatarola, 76 N.E.3d 926, 939 (Ind. Ct. App. 2017) (“The current interest rate is 8% when there is no contract by the parties specifying a different interest rate.”); Ind. Code § 24-4.6-1-101.

Section 24-4.6-1-101 requires post-judgment interest at the statutory rate on money judgments, including awards of attorney’s fees, unless a statutory exception applies.

Piccadilly Management as Managing Agent for Piccadilly Properties II, LLC d/b/aRoland Manor v. Abney · filed 2023-07-12101

The “shall” in the statute is mandatory, and therefore, unless a statutory exception applies, “prevailing plaintiffs are automatically entitled” to post-judgment interest. Denman, 176 N.E.3d at 503. Awards of fees, including attorney’s fees, also accrue post-judgment interest under the statute. Pac-Van, Inc. v. Wekiva Falls Resort, 975 N.E.2d 831, 832 (Ind. Ct. App. 2012). Accordingly, this statute indicates Piccadilly is entitled to post-judgment interest on attorney’s fees. See id.