A. With respect to a foreign-money claim, recovery of pre-judgment or pre-award interest and the rate of interest to be applied in the action or distribution proceeding, except as provided in Subsection B of this section, are matters of the substantive law governing the right to recovery under the conflict-of-laws rules of this state. B. The court or arbitrator shall increase or decrease the amount of pre-judgment or pre-award interest otherwise payable in a judgment or award in foreign money to the extent required by the law of this state governing a failure to make or accept an offer of settlement or offer of judgment, or conduct by a party or its attorney causing undue delay or expense. C. A judgment or award on a foreign-money claim bears interest at the rate applicable to judgments of this state. History: Laws 1991, ch. 181, § 10. ANNOTATIONSApplicability. — Laws 1991, ch. 181, § 18 makes the Uniform Foreign-Money Claims Act applicable to actions and distribution proceedings commenced after July 1, 1991.
New Mexico Legal Code