Opinion ID: 1268135
Heading Depth: 1
Heading Rank: 4

Heading: Pre-Judgment Interest Rate

Text: The district court awarded Mr. Arnold pre-judgment and post-judgment interest at the rate of twelve percent per annum. Mt. Wheeler argues that interest should have been awarded at a rate of eight percent. The accident in this case occurred on October 4, 1980. At that time, NRS 17.130(2) provided for interest at the rate of 8 percent per annum. On June 14, 1981, NRS 17.130(2) was amended to allow for interest at the rate of 12 percent per annum. The statutory history of this amendment reveals that the change became effective July 1, 1981, and applied to all causes of action arising on or after July 1, 1981. 1981 Nev. stats. ch. 739 §§ 2, 6 at 1858-59. In this case, the cause of action arose on October 4, 1980  the date of the accident. Therefore, interest should have been awarded at the rate of eight percent per annum until the judgment is satisfied, as provided by statute on the date the cause of action arose.