63M-7-521 - Award -- Payment methods -- Claims against the award. - Utah Statutes

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63M-7-521. Award -- Payment methods -- Claims against the award.
(1) The reparations officer may provide for the payment of an award in a lump sum or ininstallments. The part of an award equal to the amount of economic loss accrued to the date ofthe award shall be paid in a lump sum. An award of allowable expense that would accrue afteran initial award is made may not be paid in a lump sum. Except as provided in Subsection (2),the part of an award that may not be paid in a lump sum shall be paid in installments.
(2) At the request of the claimant, the reparations officer may convert future economicloss installment payments, other than allowable expense, to a lump sum payment, discounted topresent value, but only upon a finding by the officer that the award in a lump sum will promotethe interests of the claimant.
(3) An award for future economic loss payable in installments may be made only for aperiod for which the reparations officer can reasonably determine future economic loss. Thereparations officer may reconsider and modify an award for future economic loss payable ininstallments, upon the reparations officer's finding that a material and substantial change ofcircumstances has occurred.
(4) An award is not subject to execution, attachment, or garnishment, except that anaward for allowable expense is not exempt from a claim of a creditor to the extent that thecreditor provided products, services, or accommodations, the costs of which are included in theaward.
(5) An assignment or agreement to assign an award of reparations for loss accruing in thefuture is unenforceable, except:
(a) an assignment of an award of reparations for work loss to secure payment of alimony,maintenance, or child support;
(b) an assignment of an award of reparations for allowable expense to the extent that thebenefits are for the cost of products, services, or accommodations necessitated by the injury ordeath on which the claim is based and are provided or to be provided by the assignee; or
(c) an assignment to repay a loan obtained to pay for the obligations or expensesdescribed in Subsection (5)(a) or (b).

Amended by Chapter 339, 2008 General Session
Renumbered and Amended by Chapter 382, 2008 General Session

State Codes and Statutes

Statutes > Utah > Title-63m > Chapter-07 > 63m-7-521

63M-7-521. Award -- Payment methods -- Claims against the award.
(1) The reparations officer may provide for the payment of an award in a lump sum or ininstallments. The part of an award equal to the amount of economic loss accrued to the date ofthe award shall be paid in a lump sum. An award of allowable expense that would accrue afteran initial award is made may not be paid in a lump sum. Except as provided in Subsection (2),the part of an award that may not be paid in a lump sum shall be paid in installments.
(2) At the request of the claimant, the reparations officer may convert future economicloss installment payments, other than allowable expense, to a lump sum payment, discounted topresent value, but only upon a finding by the officer that the award in a lump sum will promotethe interests of the claimant.
(3) An award for future economic loss payable in installments may be made only for aperiod for which the reparations officer can reasonably determine future economic loss. Thereparations officer may reconsider and modify an award for future economic loss payable ininstallments, upon the reparations officer's finding that a material and substantial change ofcircumstances has occurred.
(4) An award is not subject to execution, attachment, or garnishment, except that anaward for allowable expense is not exempt from a claim of a creditor to the extent that thecreditor provided products, services, or accommodations, the costs of which are included in theaward.
(5) An assignment or agreement to assign an award of reparations for loss accruing in thefuture is unenforceable, except:
(a) an assignment of an award of reparations for work loss to secure payment of alimony,maintenance, or child support;
(b) an assignment of an award of reparations for allowable expense to the extent that thebenefits are for the cost of products, services, or accommodations necessitated by the injury ordeath on which the claim is based and are provided or to be provided by the assignee; or
(c) an assignment to repay a loan obtained to pay for the obligations or expensesdescribed in Subsection (5)(a) or (b).

Amended by Chapter 339, 2008 General Session
Renumbered and Amended by Chapter 382, 2008 General Session

State Codes and Statutes

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State Codes and Statutes

Statutes > Utah > Title-63m > Chapter-07 > 63m-7-521

63M-7-521. Award -- Payment methods -- Claims against the award.
(1) The reparations officer may provide for the payment of an award in a lump sum or ininstallments. The part of an award equal to the amount of economic loss accrued to the date ofthe award shall be paid in a lump sum. An award of allowable expense that would accrue afteran initial award is made may not be paid in a lump sum. Except as provided in Subsection (2),the part of an award that may not be paid in a lump sum shall be paid in installments.
(2) At the request of the claimant, the reparations officer may convert future economicloss installment payments, other than allowable expense, to a lump sum payment, discounted topresent value, but only upon a finding by the officer that the award in a lump sum will promotethe interests of the claimant.
(3) An award for future economic loss payable in installments may be made only for aperiod for which the reparations officer can reasonably determine future economic loss. Thereparations officer may reconsider and modify an award for future economic loss payable ininstallments, upon the reparations officer's finding that a material and substantial change ofcircumstances has occurred.
(4) An award is not subject to execution, attachment, or garnishment, except that anaward for allowable expense is not exempt from a claim of a creditor to the extent that thecreditor provided products, services, or accommodations, the costs of which are included in theaward.
(5) An assignment or agreement to assign an award of reparations for loss accruing in thefuture is unenforceable, except:
(a) an assignment of an award of reparations for work loss to secure payment of alimony,maintenance, or child support;
(b) an assignment of an award of reparations for allowable expense to the extent that thebenefits are for the cost of products, services, or accommodations necessitated by the injury ordeath on which the claim is based and are provided or to be provided by the assignee; or
(c) an assignment to repay a loan obtained to pay for the obligations or expensesdescribed in Subsection (5)(a) or (b).

Amended by Chapter 339, 2008 General Session
Renumbered and Amended by Chapter 382, 2008 General Session