Punitive Damages Reform: HB 1038 (2003).
Raises the standard for the imposition of punitive damages to
Raises the standard for the imposition of punitive damages to “clear and convincing” evidence of actual fraud, malice, or willful or wanton conduct and charges. Limits the award of punitive damages to the greater of $250,000 or three times compensatory damages, not to exceed $1,000,000. Provides for a bifurcated proceedings for punitive damages.
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