§ 5004. Rate of interest. (a) Interest shall be at the rate of nine
per centum per annum, except where otherwise provided by statute;
provided the annual rate of interest to be paid in an action arising out
of a consumer debt where a natural person is a defendant shall be two
per centum per annum (i) on a judgment or accrued claim for judgments
entered on or after the effective date of the chapter of the laws of two
thousand twenty-one which amended this section, and (ii) for interest
upon a judgment pursuant to section five thousand three of this article
from the date of the entry of judgment on any part of a judgment entered
before the effective date of the chapter of the laws of two thousand
twenty-one which amended this section that is unpaid as of such
effective date.

(b) For the purpose of this section "consumer debt" means any
obligation or alleged obligation of any natural person to pay money
arising out of a transaction in which the money, property, insurance or
services which are the subject of the transaction are primarily for
personal, family or household purposes, whether or not such obligation
has been reduced to judgment, including, but not limited to, a consumer
credit transaction, as defined in subdivision (f) of section one hundred
five of this chapter.

(c) This section does not affect or create any rights or remedies
related to any amounts paid prior to the effective date of this
subdivision, including amounts paid to satisfy judgments or to accrued
interest or fees paid, or with respect to judgments satisfied prior to
the effective date of this subdivision. For amounts paid prior to the
effective date of this subdivision and lawfully applied in satisfaction
or partial satisfaction of interest or fees accrued prior to the
effective date of this subdivision, this section shall not be construed
to require a judgment creditor or sheriff to (i) return or refund such
amounts to judgment debtors; or (ii) apply such payments to satisfy any
part of a money judgment other than fees or interest upon judgment
pursuant to section five thousand three of this article.

(d) If any word, phrase, clause, sentence, paragraph, subdivision, or
part of this section or its application to any person or circumstance is
held invalid by any court of competent jurisdiction after exhaustion of
all further judicial review, the invalidity shall not affect, impair, or
invalidate the remainder of this section or applications of this article
which can be given effect without the invalid provision or application,
and to this end the provisions of this section are severable.