2022 New York Laws
CVP - Civil Practice Law and Rules
Article 50 - Judgments Generally
5004 - Rate of Interest.

§  5004.  Rate  of interest. (a) Interest shall be at the rate of nine
per centum per  annum,  except  where  otherwise  provided  by  statute;
provided the annual rate of interest to be paid in an action arising out
of  a  consumer  debt where a natural person is a defendant shall be two
per centum per annum (i) on a judgment or accrued  claim  for  judgments
entered on or after the effective date of the chapter of the laws of two
thousand  twenty-one  which  amended this section, and (ii) for interest
upon a judgment pursuant to section five thousand three of this  article
from the date of the entry of judgment on any part of a judgment entered
before  the  effective  date  of the chapter of the laws of two thousand
twenty-one which  amended  this  section  that  is  unpaid  as  of  such
effective date.
  (b)  For  the  purpose  of  this  section  "consumer  debt"  means any
obligation or alleged obligation of any  natural  person  to  pay  money
arising  out of a transaction in which the money, property, insurance or
services which are the subject of  the  transaction  are  primarily  for
personal,  family  or household purposes, whether or not such obligation
has been reduced to judgment, including, but not limited to, a  consumer
credit transaction, as defined in subdivision (f) of section one hundred
five of this chapter.
  (c)  This  section  does  not  affect or create any rights or remedies
related to any  amounts  paid  prior  to  the  effective  date  of  this
subdivision,  including  amounts paid to satisfy judgments or to accrued
interest or fees paid, or with respect to judgments satisfied  prior  to
the  effective  date  of this subdivision. For amounts paid prior to the
effective date of this subdivision and lawfully applied in  satisfaction
or  partial  satisfaction  of  interest  or  fees  accrued  prior to the
effective date of this subdivision, this section shall not be  construed
to  require  a judgment creditor or sheriff to (i) return or refund such
amounts to judgment debtors; or (ii) apply such payments to satisfy  any
part  of  a  money  judgment  other  than fees or interest upon judgment
pursuant to section five thousand three of this article.
  (d) If any word, phrase, clause, sentence, paragraph, subdivision,  or
part of this section or its application to any person or circumstance is
held  invalid by any court of competent jurisdiction after exhaustion of
all further judicial review, the invalidity shall not affect, impair, or
invalidate the remainder of this section or applications of this article
which can be given effect without the invalid provision or  application,
and to this end the provisions of this section are severable.