Date of accrual
Applied in 12 court decisions — leading case Hizer v. GMC, Allison Gas Turbine Div. (1995)
Most recently applied in Dana Companies v. Chaffee Rentals (December 2013)
Formerly: Acts 1974, P.L.115, SEC.2
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Sec. 103. Interest at the rate of eight percent (8%) per annum shall be allowed:
(a) From the date of settlement on money due on any instrument in writing which does not specify a rate of interest and which is not covered by IC 24-4.5 or this article;
(b) And from the date an itemized bill shall have been rendered and payment demanded on an account stated, account closed or for money had and received for the use of another and retained without the other person's consent.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.