Maryland HB526 regulates interest accrual on settlement sums and payment timelines in civil actions.

Maryland HB526 mandates interest accrual on settlement sums from the date of agreement until payment, if the settling defendant fails to provide a draft release or pay all sums due. It applies to tort claims for money damages, excluding those settled with personal assets. The bill also outlines procedures for protecting third-party rights of recovery or subrogation, such as health care provider liens or health insurer claims, and requires prompt payment within a specified period.

Maryland HB526 regulates interest accrual on settlement sums and payment timelines in civil actions.

Maryland HB526 mandates interest accrual on settlement sums from the date of agreement until payment, if the settling defendant fails to provide a draft release or pay all sums due. It applies to tort claims for money damages, excluding those settled with personal assets. The bill also outlines procedures for protecting third-party rights of recovery or subrogation, such as health care provider liens or health insurer claims, and requires prompt payment within a specified period.