§ 5004. Rate of interest. (a) Interest shall be at the rate of nine\nper centum per annum, except where otherwise provided by statute;\nprovided the annual rate of interest to be paid in an action arising out\nof a consumer debt where a natural person is a defendant shall be two\nper centum per annum (i) on a judgment or accrued claim for judgments\nentered on or after the effective date of the chapter of the laws of two\nthousand twenty-one which amended this section, and (ii) for interest\nupon a judgment pursuant to section five thousand three of this article\nfrom the date of the entry of judgment on any part of a judgment entered\nbefore the effective date of the chapter of the laws of two thousand\ntwenty-one which amended this section that is unpaid as of such\neffective date.\n (b) For the purpose of this section "consumer debt" means any\nobligation or alleged obligation of any natural person to pay money\narising out of a transaction in which the money, property, insurance or\nservices which are the subject of the transaction are primarily for\npersonal, family or household purposes, whether or not such obligation\nhas been reduced to judgment, including, but not limited to, a consumer\ncredit transaction, as defined in subdivision (f) of section one hundred\nfive of this chapter.\n (c) This section does not affect or create any rights or remedies\nrelated to any amounts paid prior to the effective date of this\nsubdivision, including amounts paid to satisfy judgments or to accrued\ninterest or fees paid, or with respect to judgments satisfied prior to\nthe effective date of this subdivision. For amounts paid prior to the\neffective date of this subdivision and lawfully applied in satisfaction\nor partial satisfaction of interest or fees accrued prior to the\neffective date of this subdivision, this section shall not be construed\nto require a judgment creditor or sheriff to (i) return or refund such\namounts to judgment debtors; or (ii) apply such payments to satisfy any\npart of a money judgment other than fees or interest upon judgment\npursuant to section five thousand three of this article.\n (d) If any word, phrase, clause, sentence, paragraph, subdivision, or\npart of this section or its application to any person or circumstance is\nheld invalid by any court of competent jurisdiction after exhaustion of\nall further judicial review, the invalidity shall not affect, impair, or\ninvalidate the remainder of this section or applications of this article\nwhich can be given effect without the invalid provision or application,\nand to this end the provisions of this section are severable.\n
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