5100. At the time of making its award, or at any time thereafter,
the appeals board, on its own motion either upon notice, or upon
application of either party with due notice to the other, may commute
the compensation payable under this division to a lump sum and order
it to be paid forthwith or at some future time if any of the
following conditions appear:
(a) That such commutation is necessary for the protection of the
person entitled thereto, or for the best interest of the applicant.
In determining what is in the best interest of the applicant, the
appeals board shall consider the general financial condition of the
applicant, including but not limited to, the applicant's ability to
live without periodic indemnity payments and to discharge debts
incurred prior to the date of injury.
(b) That commutation will avoid inequity and will not cause undue
expense or hardship to the applicant.
(c) That the employer has sold or otherwise disposed of the
greater part of his assets or is about to do so.
(d) That the employer is not a resident of this state.
5100.5. Notwithstanding the provisions of Section 5100, the appeals
board shall not commute the compensation payable under this division
to a lump sum when such compensation is payable under Section 4751
of the Labor Code.
5100.6. Notwithstanding the provisions of Section 5100, the appeals
board shall not permit the commutation or settlement of prospective
compensation or indemnity payments or other benefits to which the
employee is entitled under vocational rehabilitation.
5101. The amount of the lump sum shall be determined as follows:
(a) If the injury causes temporary disability, the appeals board
shall estimate the probable duration thereof and the probable amount
of the temporary disability payments therefor, in accordance with
Chapter 2 of Part 2 of this division, and shall fix the lump sum at
the amount so determined.
(b) If the injury causes permanent disability or death, the
appeals board shall fix the total amount of the permanent disability
payment or death benefit payable therefor in accordance with Chapter
2 of Part 2 of this division, and shall estimate the present value
thereof, assuming interest at the rate of 3 percent per annum and
disregarding the probability of the beneficiary's death in all cases
except where the percentage of permanent disability is such as to
entitle the beneficiary to a life pension, and then taking into
consideration the probability of the beneficiary's death only in
estimating the present value of such life pension.
5102. The appeals board may order the lump sum paid directly to the
injured employee or his dependents, or deposited with any savings
bank or trust company authorized to transact business in this state,
which agrees to accept the same as a deposit bearing interest; or the
appeals board may order the lump sum deposited with the State
Compensation Insurance Fund. Any lump sum so deposited, together with
all interest derived therefrom, shall thereafter be held in trust
for the injured employee, or in the event of his death, for his
dependents. In the event of the employee's death, his dependents
shall have no further recourse against the employer under this
chapter.
5103. Payments from the lump sum so deposited shall be made by the
trustee only in the amounts and at the time fixed by order of the
appeals board and until the lump sum and interest thereon are
exhausted.
5104. In the appointment of the trustee, preference may be given to
the choice of the injured employee or his dependents.
5105. Upon the payment of a lump sum, the employer shall present to
the appeals board a proper receipt evidencing the same, executed
either by the injured employee or his dependents, or by the trustee.
The appeals board shall thereupon issue its certificate in proper
form evidencing such payment. Such certificate, upon filing with the
clerk of the superior court in which any judgment upon an award has
been entered, operates as a satisfaction of the award and fully
discharges the employer from any further liability on account
thereof.
5106. The appeals board shall, upon the request of the Director of
Industrial Relations, where the employer is uninsured and the
installments of compensation awarded are to be paid in the future,
determine the present worth of the future payments, discounted at the
rate of 3 percent per annum, and order the present worth paid into
the Uninsured Employers Fund, which fund shall thereafter pay to the
beneficiaries of the award the future payments as they become due.
5100. At the time of making its award, or at any time thereafter,
the appeals board, on its own motion either upon notice, or upon
application of either party with due notice to the other, may commute
the compensation payable under this division to a lump sum and order
it to be paid forthwith or at some future time if any of the
following conditions appear:
(a) That such commutation is necessary for the protection of the
person entitled thereto, or for the best interest of the applicant.
In determining what is in the best interest of the applicant, the
appeals board shall consider the general financial condition of the
applicant, including but not limited to, the applicant's ability to
live without periodic indemnity payments and to discharge debts
incurred prior to the date of injury.
(b) That commutation will avoid inequity and will not cause undue
expense or hardship to the applicant.
(c) That the employer has sold or otherwise disposed of the
greater part of his assets or is about to do so.
(d) That the employer is not a resident of this state.
5100.5. Notwithstanding the provisions of Section 5100, the appeals
board shall not commute the compensation payable under this division
to a lump sum when such compensation is payable under Section 4751
of the Labor Code.
5100.6. Notwithstanding the provisions of Section 5100, the appeals
board shall not permit the commutation or settlement of prospective
compensation or indemnity payments or other benefits to which the
employee is entitled under vocational rehabilitation.
5101. The amount of the lump sum shall be determined as follows:
(a) If the injury causes temporary disability, the appeals board
shall estimate the probable duration thereof and the probable amount
of the temporary disability payments therefor, in accordance with
Chapter 2 of Part 2 of this division, and shall fix the lump sum at
the amount so determined.
(b) If the injury causes permanent disability or death, the
appeals board shall fix the total amount of the permanent disability
payment or death benefit payable therefor in accordance with Chapter
2 of Part 2 of this division, and shall estimate the present value
thereof, assuming interest at the rate of 3 percent per annum and
disregarding the probability of the beneficiary's death in all cases
except where the percentage of permanent disability is such as to
entitle the beneficiary to a life pension, and then taking into
consideration the probability of the beneficiary's death only in
estimating the present value of such life pension.
5102. The appeals board may order the lump sum paid directly to the
injured employee or his dependents, or deposited with any savings
bank or trust company authorized to transact business in this state,
which agrees to accept the same as a deposit bearing interest; or the
appeals board may order the lump sum deposited with the State
Compensation Insurance Fund. Any lump sum so deposited, together with
all interest derived therefrom, shall thereafter be held in trust
for the injured employee, or in the event of his death, for his
dependents. In the event of the employee's death, his dependents
shall have no further recourse against the employer under this
chapter.
5103. Payments from the lump sum so deposited shall be made by the
trustee only in the amounts and at the time fixed by order of the
appeals board and until the lump sum and interest thereon are
exhausted.
5104. In the appointment of the trustee, preference may be given to
the choice of the injured employee or his dependents.
5105. Upon the payment of a lump sum, the employer shall present to
the appeals board a proper receipt evidencing the same, executed
either by the injured employee or his dependents, or by the trustee.
The appeals board shall thereupon issue its certificate in proper
form evidencing such payment. Such certificate, upon filing with the
clerk of the superior court in which any judgment upon an award has
been entered, operates as a satisfaction of the award and fully
discharges the employer from any further liability on account
thereof.
5106. The appeals board shall, upon the request of the Director of
Industrial Relations, where the employer is uninsured and the
installments of compensation awarded are to be paid in the future,
determine the present worth of the future payments, discounted at the
rate of 3 percent per annum, and order the present worth paid into
the Uninsured Employers Fund, which fund shall thereafter pay to the
beneficiaries of the award the future payments as they become due.
5100. At the time of making its award, or at any time thereafter,
the appeals board, on its own motion either upon notice, or upon
application of either party with due notice to the other, may commute
the compensation payable under this division to a lump sum and order
it to be paid forthwith or at some future time if any of the
following conditions appear:
(a) That such commutation is necessary for the protection of the
person entitled thereto, or for the best interest of the applicant.
In determining what is in the best interest of the applicant, the
appeals board shall consider the general financial condition of the
applicant, including but not limited to, the applicant's ability to
live without periodic indemnity payments and to discharge debts
incurred prior to the date of injury.
(b) That commutation will avoid inequity and will not cause undue
expense or hardship to the applicant.
(c) That the employer has sold or otherwise disposed of the
greater part of his assets or is about to do so.
(d) That the employer is not a resident of this state.
5100.5. Notwithstanding the provisions of Section 5100, the appeals
board shall not commute the compensation payable under this division
to a lump sum when such compensation is payable under Section 4751
of the Labor Code.
5100.6. Notwithstanding the provisions of Section 5100, the appeals
board shall not permit the commutation or settlement of prospective
compensation or indemnity payments or other benefits to which the
employee is entitled under vocational rehabilitation.
5101. The amount of the lump sum shall be determined as follows:
(a) If the injury causes temporary disability, the appeals board
shall estimate the probable duration thereof and the probable amount
of the temporary disability payments therefor, in accordance with
Chapter 2 of Part 2 of this division, and shall fix the lump sum at
the amount so determined.
(b) If the injury causes permanent disability or death, the
appeals board shall fix the total amount of the permanent disability
payment or death benefit payable therefor in accordance with Chapter
2 of Part 2 of this division, and shall estimate the present value
thereof, assuming interest at the rate of 3 percent per annum and
disregarding the probability of the beneficiary's death in all cases
except where the percentage of permanent disability is such as to
entitle the beneficiary to a life pension, and then taking into
consideration the probability of the beneficiary's death only in
estimating the present value of such life pension.
5102. The appeals board may order the lump sum paid directly to the
injured employee or his dependents, or deposited with any savings
bank or trust company authorized to transact business in this state,
which agrees to accept the same as a deposit bearing interest; or the
appeals board may order the lump sum deposited with the State
Compensation Insurance Fund. Any lump sum so deposited, together with
all interest derived therefrom, shall thereafter be held in trust
for the injured employee, or in the event of his death, for his
dependents. In the event of the employee's death, his dependents
shall have no further recourse against the employer under this
chapter.
5103. Payments from the lump sum so deposited shall be made by the
trustee only in the amounts and at the time fixed by order of the
appeals board and until the lump sum and interest thereon are
exhausted.
5104. In the appointment of the trustee, preference may be given to
the choice of the injured employee or his dependents.
5105. Upon the payment of a lump sum, the employer shall present to
the appeals board a proper receipt evidencing the same, executed
either by the injured employee or his dependents, or by the trustee.
The appeals board shall thereupon issue its certificate in proper
form evidencing such payment. Such certificate, upon filing with the
clerk of the superior court in which any judgment upon an award has
been entered, operates as a satisfaction of the award and fully
discharges the employer from any further liability on account
thereof.
5106. The appeals board shall, upon the request of the Director of
Industrial Relations, where the employer is uninsured and the
installments of compensation awarded are to be paid in the future,
determine the present worth of the future payments, discounted at the
rate of 3 percent per annum, and order the present worth paid into
the Uninsured Employers Fund, which fund shall thereafter pay to the
beneficiaries of the award the future payments as they become due.
