2006 Code of Virginia § 6.1-330.54 - Judgment rate of interest

6.1-330.54. Judgment rate of interest.

The judgment rate of interest shall be an annual rate of six percent, exceptthat a money judgment entered in an action arising from a contract shallcarry interest at the rate lawfully charged on such contract, or at sixpercent annually, whichever is higher. If the contract or other instrumentdoes not fix an interest rate, the court shall apply the judgment rate of sixpercent to calculate prejudgment interest pursuant to 8.01-382 and tocalculate post-judgment interest. The rate of interest for a judgment shallbe the judgment rate of interest in effect at the time of entry of thejudgment and shall not be affected by any subsequent changes to the rate ofinterest stated in this section.

(1987, cc. 622, 623, 630; 1991, c. 508; 2004, c. 646; 2005, c. 455.)