Section 21-3A-12 – Rules established by director of Division of Insurance.
21-3A-12. Rules established by director of Division of Insurance. The director of the Division of Insurance shall establish rules: (1)For determining which insurers, self-insurers, plans, or arrangements are financially qualified to provide the security required under this Act and to be designated as qualified insurers; (2)To require insurers to post security under §21-3A-8 if found […]
Section 21-3A-13 – Provisions of chapter severable.
21-3A-13. Provisions of chapter severable. If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and to this end the provisions of this chapter are […]
Section 21-3A-4 – Evidence and calculation of future damages–Jury instructions concerning future damages.
21-3A-4. Evidence and calculation of future damages–Jury instructions concerning future damages. In all trials under this chapter, evidence of future damages shall be expressed in current values and those damages shall be calculated by the trier of fact without regard to future changes in the earning power or purchasing power of the dollar. In all […]
Section 21-3A-5 – Judgment entered on verdict requiring special damages.
21-3A-5. Judgment entered on verdict requiring special damages. In order to determine what judgment is to be entered on a verdict requiring findings of special damages under this chapter, the court shall proceed as follows: (1)The court shall apply to the findings of past and future damages whether determined by the court or jury, any […]
Section 21-3A-6 – Judgment for periodic installments–Adjustment–Index factor–Schedule of payments.
21-3A-6. Judgment for periodic installments–Adjustment–Index factor–Schedule of payments. A judgment for periodic installments shall set out: (1)The findings of the future damages for each calendar year; and (2)A schedule of the base figure for each calendar year to be used in calculating future payments. The base figure is determined by discounting the findings for each […]
Section 21-3A-7 – Security authorized for payment of judgment for periodic installments.
21-3A-7. Security authorized for payment of judgment for periodic installments. Security authorized or required for payment of a judgment for periodic installments entered in accordance with this chapter shall be in one or more of the following forms and approved by the court: (1)Bond executed by a qualified insurer; (2)Annuity contract executed by a qualified […]
Section 21-3A-8 – Posting of security by judgment debtor or insurer–Failure to comply–Right to lump-sum payment–Wrongful death action–Right of reimbursement.
21-3A-8. Posting of security by judgment debtor or insurer–Failure to comply–Right to lump-sum payment–Wrongful death action–Right of reimbursement. If the court enters a judgment for periodic installments, each party liable for all or a portion of the judgment, unless found to be incapable of doing so under subdivision 21-3A-5(4), shall separately or jointly with one […]
Section 21-3A-9 – Discount factor.
21-3A-9. Discount factor. If future damages are determined in accordance with §21-3A-4 but are ordered to be paid in advance of the period to which they apply, or base figures are required under §21-3A-6, the court shall apply a discount factor of three percent, compounded annually. Source: SL 1986, ch 163, §9.
Section 21-3A-10 – Survivorship of liability for installment payments–Wrongful death action–Qualifying survivor defined.
21-3A-10. Survivorship of liability for installment payments–Wrongful death action–Qualifying survivor defined. In all cases covered by this chapter in which future damages are payable in periodic installments, the liability for payment of any installments for medical or other costs of health care or noneconomic loss not yet due at the death of a person entitled […]
Section 21-3A-11 – Satisfaction of judgment and discharge of debtor.
21-3A-11. Satisfaction of judgment and discharge of debtor. If security is posted in accordance with §21-3A-8 and approved under a final judgment entered under this chapter, the judgment is satisfied and the judgment debtor on whose behalf the security is posted is discharged. Source: SL 1986, ch 163, §11.