85.47 - BASIS OF COMMUTATION. - Iowa Statutes

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Statutes > Iowa > Title-3 > Subtitle-2 > Chapter-85 > 85-47

        85.47  BASIS OF COMMUTATION.
         When the commutation is ordered, the workers' compensation
      commissioner shall fix the lump sum to be paid at an amount which
      will equal the total sum of the probable future payments capitalized
      at their present value and upon the basis of interest at the rate
      provided in section 535.3 for court judgments and decrees.  Upon the
      payment of such amount the employer shall be discharged from all
      further liability on account of the injury or death, and be entitled
      to a duly executed release, upon filing which the liability of the
      employer under any agreement, award, finding, or judgment shall be
      discharged of record.

Section History: Early Form

         [S13, § 2477-m14; C24, 27, 31, 35, 39, § 1407; C46, 50, 54,
      58, 62, 66, 71, 73, 75, 77, 79, 81, § 85.47; 82 Acts, ch 1161, § 16]

Section History: Recent Form

         98 Acts, ch 1061, § 11
         Intent; commutation of future payments to a present lump-sum
      payment; 86 Acts, ch 1246, § 604

State Codes and Statutes

Statutes > Iowa > Title-3 > Subtitle-2 > Chapter-85 > 85-47

        85.47  BASIS OF COMMUTATION.
         When the commutation is ordered, the workers' compensation
      commissioner shall fix the lump sum to be paid at an amount which
      will equal the total sum of the probable future payments capitalized
      at their present value and upon the basis of interest at the rate
      provided in section 535.3 for court judgments and decrees.  Upon the
      payment of such amount the employer shall be discharged from all
      further liability on account of the injury or death, and be entitled
      to a duly executed release, upon filing which the liability of the
      employer under any agreement, award, finding, or judgment shall be
      discharged of record.

Section History: Early Form

         [S13, § 2477-m14; C24, 27, 31, 35, 39, § 1407; C46, 50, 54,
      58, 62, 66, 71, 73, 75, 77, 79, 81, § 85.47; 82 Acts, ch 1161, § 16]

Section History: Recent Form

         98 Acts, ch 1061, § 11
         Intent; commutation of future payments to a present lump-sum
      payment; 86 Acts, ch 1246, § 604

State Codes and Statutes

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State Codes and Statutes

Statutes > Iowa > Title-3 > Subtitle-2 > Chapter-85 > 85-47

        85.47  BASIS OF COMMUTATION.
         When the commutation is ordered, the workers' compensation
      commissioner shall fix the lump sum to be paid at an amount which
      will equal the total sum of the probable future payments capitalized
      at their present value and upon the basis of interest at the rate
      provided in section 535.3 for court judgments and decrees.  Upon the
      payment of such amount the employer shall be discharged from all
      further liability on account of the injury or death, and be entitled
      to a duly executed release, upon filing which the liability of the
      employer under any agreement, award, finding, or judgment shall be
      discharged of record.

Section History: Early Form

         [S13, § 2477-m14; C24, 27, 31, 35, 39, § 1407; C46, 50, 54,
      58, 62, 66, 71, 73, 75, 77, 79, 81, § 85.47; 82 Acts, ch 1161, § 16]

Section History: Recent Form

         98 Acts, ch 1061, § 11
         Intent; commutation of future payments to a present lump-sum
      payment; 86 Acts, ch 1246, § 604