Opinion
January 11, 2007.
ORDER
S.C. Code Ann. § 34-31-20 (B) (Supp. 2006) provides that the legal rate of interest on money decrees and judgments "is equal to the prime rate as listed in the first edition of the Wall Street Journal published for each calendar year for which the damages are awarded, plus four percentage points, compounded annually. The South Carolina Supreme Court shall issue an order by January 15 of each year confirming the annual prime rate. This section applies to all judgments entered on or after July 1, 2005. For judgments entered between July 1, 2005, and January 14, 2006, the legal rate of interest shall be the first prime rate as published in the first edition of the Wall Street Journal after January 1, 2005, plus four percentage points."
The Wall Street Journal for January 2, 2007, the first edition after January 1, 2007, listed the prime rate as 8.25%. Therefore, for the period January 15, 2007, through January 14, 2008, the legal rate of interest for judgments and money decrees is 12.25% compounded annually.
Jean H. Toal, C. J., FOR THE COURT
NOTICE
On June 12, 2000, Petitioner was definitely suspended from the practice of law for two years. In the Matter of Broadwater, 341 S.C. 101, 533 S.E.2d 589 (2000). He has now filed a petition to be reinstated.
Pursuant to Rule 33(e)(2) of the Rules for Lawyer Disciplinary Enforcement contained in Rule 413, SCACR, notice is hereby given that members of the bar and the public may file a notice of their opposition to or concurrence with the Petition for Reinstatement. Comments should be mailed to:
Committee on Character and Fitness P.O. Box 11330 Columbia, South Carolina 29211
These comments should be received no later than March 13, 2007. Columbia, South Carolina