Assembly Bill A2547

2021-2022 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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Sponsored By

Archive: Last Bill Status - 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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2021-A2547 (ACTIVE) - Details

See Senate Version of this Bill:
S469
Law Section:
Civil Practice Law and Rules
Laws Affected:
Amd §§1207 & 5003-a, R1208, CPLR; amd §2220, SCPA
Versions Introduced in Other Legislative Sessions:
2009-2010: A2874
2011-2012: A634
2013-2014: A999
2015-2016: A281
2017-2018: A1499
2019-2020: A5620, S4238
2023-2024: A3773, S2602

2021-A2547 (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.

2021-A2547 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2547
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 19, 2021
                                ___________
 
 Introduced  by M. of A. WEINSTEIN, WEPRIN, SEAWRIGHT, BRONSON, L. ROSEN-
   THAL, TAYLOR -- Multi-Sponsored by -- M. of A.  CYMBROWITZ,  GLICK  --
   read once and referred to the Committee on Judiciary
 
 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:
   § 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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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