From and after the date of entry on an order of judgment, including the period of the pendency of an appeal, interest is allowed at a rate of 10%.__The Supreme Judicial Court may review the rate of interest after judgment no more than once per year and, if there has been a substantial change in market interest rates, may order a change of the rate in this section to accurately reflect the market rate.__If the Supreme Judicial Court orders a change in the interest rate under this section, the rate must be roughly 167% of the rate set in section 1602.

Sec. 5. 14 MRSA §1602-A, sub-§1, as amended by PL 1989, c. 502, Pt. B, §15, is repealed.

Sec. 6. 14 MRSA §1602-A, sub-§2, as amended by PL 2001, c. 471, Pt. D, §14, is repealed.

Sec. 7. 18-A MRSA §3-806, sub-§(d), as amended by PL 1997, c. 202, §1, is further amended to read:

(d) Unless otherwise provided in any judgment in another court entered against the personal representative, allowed claims bear prejudgment interest at the rate specified in Title 14, section 1602, subsection 1, paragraph A for the period commencing 60 days after the time for original presentation of the claim has expired unless based on a contract making a provision for interest, in which case they bear interest in accordance with that provision.

(1) Interest may not accrue on any allowed claims, however allowed, against an insolvent estate, except to the extent that insurance coverage or other nonprobate assets are available to pay the claim in full. This paragraph is effective for estates of decedents who die on or after October 1, 1997.

(2) To the extent that an allowed claim against an insolvent estate is secured by property, the value of which, as determined under section 3-809, is greater than the amount of the claim, the holder of the claim may receive interest on the principal amount of the claim and any reasonable fees, costs or charges provided for under an agreement under which the claim arose. This paragraph is effective for estates of decedents who die on or after October 1, 1997.