Senate Bill S7035

2009-2010 Legislative Session

Provides that for settlements that require a court order the order shall provide for the payment of interest on the settlement amount at the statutory rate

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Archive: Last Bill Status Via A2874 - On Floor Calendar


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2009-S7035 (ACTIVE) - Details

See Assembly Version of this Bill:
A2874
Law Section:
Civil Practice Law and Rules
Laws Affected:
Amd §§1207 & 5003-a, R1208, CPLR; amd §2220, SCPA
Versions Introduced in Other Legislative Sessions:
2011-2012: A634
2013-2014: A999
2015-2016: A281
2017-2018: A1499
2019-2020: A5620
2021-2022: A2547
2023-2024: A3773

2009-S7035 (ACTIVE) - Summary

Provides that for settlements that require a court order, the order, or the judgment in a special proceeding, shall provide for the payment of interest on the settlement amount at the statutory interest rate on judgments.

2009-S7035 (ACTIVE) - Sponsor Memo

2009-S7035 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7035

                            I N  S E N A T E

                              March 9, 2010
                               ___________

Introduced  by  Sen. SCHNEIDERMAN -- read twice and ordered printed, and
  when printed to be committed to the Committee on Codes

AN ACT to amend the civil practice law and  rules  and  the  surrogate's
  court  procedure  act, in relation to addressing delay in payment of a
  settlement where the settlement requires court approval

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Section  1207  of  the  civil  practice law and rules, as
amended by chapter 355 of the laws  of  1986,  is  amended  to  read  as
follows:
  S  1207.  Settlement of action or claim by infant, judicially declared
incompetent or conservatee, by whom  motion  made;  special  proceeding;
notice;  order of settlement. (A) Upon motion of a guardian of the prop-
erty or guardian ad litem of an infant or, if there is no such guardian,
then of a parent having legal custody of an infant, or if  there  is  no
such parent, by another person having legal custody, or if the infant is
married,  by an adult spouse residing with the infant, or of the commit-
tee of the property of a person judicially declared to  be  incompetent,
or  of  the  conservator of the property of a conservatee, the court may
order settlement of any action commenced by or on behalf of the  infant,
incompetent  or  conservatee. If no action has been commenced, a special
proceeding may be commenced upon petition of such a  representative  for
settlement of any claim by the infant, incompetent or conservatee in any
court  where  an  action for the amount of the proposed settlement could
have been commenced.  Unless otherwise provided by  rule  of  the  chief
administrator  of  the courts, if no motion term is being held and there
is no justice of the supreme court  available  in  a  county  where  the
action  or an action on the claim is triable, such a motion may be made,
or special proceeding may be commenced, in a county court and the county
judge shall act with the same power as a justice of  the  supreme  court
even  though  the amount of the settlement may exceed the jurisdictional
limits of the county court. Notice of the motion or  petition  shall  be
given as directed by the court. An order on such a motion shall have the
effect  of a judgment. Such order, or the judgment in a special proceed-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
              

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