N.Y. CPLR § 5004

NEW YORK CIVIL PRACTICE LAW AND RULES (CPLR) New York State | For Informational Purposes Only CPLR § 5004 Rate of interest § 5004. Rate of interest. (a) Interest shall be at the rate of nineper centum per annum, except where otherwise provided by statute;provided the annual rate of interest to be paid in an action arising outof a consumer debt where a natural person is a defendant shall be twoper centum per annum (i) on a judgment or accrued claim for judgmentsentered on or after the effective date of the chapter of the laws of twothousand twenty-one which amended this section, and (ii) for interestupon a judgment pursuant to section five thousand three of this articlefrom the date of the entry of judgment on any part of a judgment enteredbefore the effective date of the chapter of the laws of two thousandtwenty-one which amended this section that is unpaid as of sucheffective date.(b) For the purpose of this section "consumer debt" means anyobligation or alleged obligation of any natural person to pay moneyarising out of a transaction in which the money, property, insurance orservices which are the subject of the transaction are primarily forpersonal, family or household purposes, whether or not such obligationhas been reduced to judgment, including, but not limited to, a consumercredit transaction, as defined in subdivision (f) of section one hundredfive of this chapter.(c) This section does not affect or create any rights or remediesrelated to any amounts paid prior to the effective date of thissubdivision, including amounts paid to satisfy judgments or to accruedinterest or fees paid, or with respect to judgments satisfied prior tothe effective date of this subdivision. For amounts paid prior to theeffective date of this subdivision and lawfully applied in satisfactionor partial satisfaction of interest or fees accrued prior to theeffective date is subdivision. For amounts paid prior to theeffective date of this subdivision and lawfully applied in satisfactionor partial satisfaction of interest or fees accrued prior to theeffective date of this subdivision, this section shall not be construedto require a judgment creditor or sheriff to (i) return or refund suchamounts to judgment debtors; or (ii) apply such payments to satisfy anypart of a money judgment other than fees or interest upon judgmentpursuant to section five thousand three of this article.(d) If any word, phrase, clause, sentence, paragraph, subdivision, orpart of this section or its application to any person or circumstance isheld invalid by any court of competent jurisdiction after exhaustion ofall further judicial review, the invalidity shall not affect, impair, orinvalidate the remainder of this section or applications of this articlewhich can be given effect without the invalid provision or application,and to this end the provisions of this section are severable.