SB 1912

Abstract

Amends the Civil Practice Law of the Code of Civil Procedure. Provides that in any civil action involving a claim for money damages, a release must be tendered by the settling defendants to the plaintiff within 14 days of an agreement to the settlement, and in cases where the law requires court approval of the settlement, the plaintiff shall timely obtain court approval and tender to the defendant a copy of the order approving the settlement. Provides that a settling defendant shall pay all sums due to a settling plaintiff within 21 days of tender by the settling plaintiff to the settling defendant of a duly executed release (and, if required by law, a copy of the order approving the settlement), and provides that upon failure to pay, interest, calculated from the date of the release, shall accrue on the amount of the settlement and shall be payable to the settling plaintiff. Provides that the plaintiff is entitled to judgment without further notice against any settling defendant who has not timely paid. Provides that the new provisions apply to all civil actions involving a claim for money damages. Effective immediately.