Prejudgment Interest Rules in Oklahoma
At a glance
| Governing law | 23 O.S. §§ 6–8 govern ascertainable damages and discretionary noncontract interest; 12 O.S. § 727.1(E)–(I) governs personal-injury and personal-rights verdicts |
|---|---|
| Interest rate | General legal rate is 6% absent a contract rate (15 O.S. § 266); § 727.1 prejudgment rate is the prior year’s average U.S. Treasury Bill rate, certified annually |
| When interest starts running | Ascertainable damages: when right to recover vested (23 O.S. § 6). Covered injury verdict: 24 months after suit commenced, until verdict acceptance or judgment filing (12 O.S. § 727.1(E)) |
| Contract vs. tort claims | 23 O.S. § 6 applies to certain or calculable damages; § 7 permits jury-awarded interest for noncontract obligations, oppression, fraud, or malice; § 727.1(E) separately governs covered injury verdicts |
| Mandatory or discretionary | § 6 claimant is entitled to interest; § 7 leaves interest to jury discretion; under § 727.1(E) the court shall add interest to a covered verdict |
| Simple or compound | These prejudgment provisions specify rates and accrual periods but do not expressly require compounding; § 727.1(C) separately addresses postjudgment compounding |
| Claims against the government | Covered injury verdict against state or political subdivision: interest from filing, subject to Governmental Tort Claims Act total liability cap (12 O.S. § 727.1(F)) |
| Other exceptions | Punitive-award interest starts at judgment; a qualifying lien judgment earns interest from lien filing; accepting full principal waives interest (12 O.S. § 727.1(G), (H); 23 O.S. § 8) |
Requirements one by one
When interest starts running
For a claim with damages certain or calculable, 23 O.S. § 6 starts interest on the particular day the right to recover vested. It suspends that period while law or the creditor's act prevents the debtor from paying. For a covered personal-injury or personal-rights verdict, 12 O.S. § 727.1(E) starts interest only 24 months after suit was commenced and ends it when the verdict is accepted or judgment is filed, whichever comes first.
Claims against the government
The separate rule in 12 O.S. § 727.1(F) begins interest on a covered verdict against the state or a political subdivision when suit was commenced. Its cap includes both the underlying judgment and prejudgment interest.
What trips people up
The 24-month wait in § 727.1(E) applies to covered injury verdicts against private defendants. A property claim with damages that can be calculated may instead qualify under 23 O.S. § 6. If the claim falls under the jury-discretion rule, 23 O.S. § 7 makes an interest award possible rather than automatic.
The general 23 O.S. §§ 6-7 rules thus depend on the type of claim and whether its damages are calculable. Accepting the whole principal waives the interest claim under 23 O.S. § 8.
The statute distinguishes prejudgment and postjudgment calculations. Section 727.1(C) expressly compounds postjudgment interest on previously accrued interest; the prejudgment provisions in § 727.1(G)-(I) do not say that.
Common questions
What rate applies to a calculable contract debt? 15 O.S. § 266 supplies a 6% legal rate when the contract states no rate. A lawful contract rate can differ.
What rate applies to a covered injury verdict? Section 727.1(I) uses the preceding calendar year's average U.S. Treasury Bill rate, certified at the start of each year. Section 727.1(E) applies the rate for each calendar year during the prejudgment period.
Does punitive damage interest start before judgment? For an award covered by 12 O.S. § 727.1(G), it begins when the judgment is rendered or filed, whichever is earlier.
Statutes and sources
- 23 O.S. §§ 6–8, damages interest and principal waiver, accessed 2026-10-06: https://www.oscn.net/applications/oscn/DeliverDocument.asp?cite=23+O.S.+6 (see also the section 7 and 8 URLs in the quoted sources).
- 15 O.S. § 266, legal rate, accessed 2026-10-06: https://www.oscn.net/applications/oscn/DeliverDocument.asp?cite=15+O.S.+266
- 12 O.S. § 727.1(E)–(I), covered verdicts, government claims, and rate, accessed 2026-10-06: https://www.oscn.net/applications/oscn/DeliverDocument.asp?cite=12+O.S.+727.1
Source links
Every statute quoted above, linked, with the date we checked it.
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