April 21st, 2010
Under Minnesota law, a monetary judgment entered by a court is subject to an interest rate established by Minnesota Statute Section 549.09. The interest rate, which the Minnesota State Legislature adjusts periodically, accrues on the unpaid judgment amount until the judgment is satisfied entirely.
The Minnesota Judicial Center recently circulated the 2009/2010 judgment interest rates, effective for money judgments entered on or after August 1, 2009.
For judgments less than or equal to $50,000, the statutory interest rate is 4%.
For judgments greater than $50,000, the statutory interest rate is 10% (except for money judgments entered against the state or a political subdivision).
April 8th, 2010
Craig Wendland is participating in a small business brief advice clinic on Tuesday April 13, 2010 from 9:00 a.m. to 11:00 a.m. The clinic is provided through LegalCORPS and will be held at the Small Business Development Center located in the Heintz Center at RCTC. For more information and to sign up, please go to the LegalCORPS website