Kentucky Statutes 396.085 – Interest on allowed claims
Current as of: 2024 | Check for updates
|
Other versions
Unless otherwise provided in any judgment against the personal representative: (1) An allowed claim not based on a contract making a provision for interest:
(a) Shall not bear interest for the period commencing with the date of the decedent‘s death and ending sixty (60) days after the time for original presentation of the claim has expired; and
(b) Shall bear interest at the legal rate after the period specified in subsection (1)(a) of this section provided the claimant has demanded the payment of interest in the written statement of the claim delivered or mailed to the personal representative or filed with the clerk of the court as provided in KRS
396.015.
(2) An allowed claim based on a contract making a provision for interest shall bear interest from the date of the decedent’s death in accordance with the contract provision.
Effective: July 15, 1988
History: Created 1988 Ky. Acts ch. 90, sec. 14, effective July 15, 1988.
(a) Shall not bear interest for the period commencing with the date of the decedent‘s death and ending sixty (60) days after the time for original presentation of the claim has expired; and
Terms Used In Kentucky Statutes 396.085
- Contract: A legal written agreement that becomes binding when signed.
- Decedent: A deceased person.
(b) Shall bear interest at the legal rate after the period specified in subsection (1)(a) of this section provided the claimant has demanded the payment of interest in the written statement of the claim delivered or mailed to the personal representative or filed with the clerk of the court as provided in KRS
396.015.
(2) An allowed claim based on a contract making a provision for interest shall bear interest from the date of the decedent’s death in accordance with the contract provision.
Effective: July 15, 1988
History: Created 1988 Ky. Acts ch. 90, sec. 14, effective July 15, 1988.