12-581. Definitions In this article, unless the context otherwise requires: 1. " Bodily injury" means bodily harm, sickness, disease or emotional or mental distress, including death resulting from any of these conditions at any time, sustained by a person. 2. " Claimant" means a person suffering bodily injury, a person claiming on behalf of or […]
12-582. Election of periodic payments A. This article applies to any trial involving a claim for future damages arising out of a medical malpractice action. Any party may elect to receive or pay future damages for economic losses in periodic installments in accordance with this article. B. The election shall be made pursuant to court […]
12-583. Good cause hearing A. In a hearing held to determine whether good cause exists not to try a claim under this article, the court shall consider the circumstances of the parties and all relevant factors, including, but not limited to: 1. Whether the risk that a lump sum award would be dissipated is insignificant. […]
12-584. Special findings; future damages A. If liability is found in a trial conducted under this article, the trier of fact shall make separate findings for each claimant specifying the amount of any: 1. Past damages in a lump sum. 2. Future damages for noneconomic loss in a lump sum. 3. Future damages and the […]
12-585. Evidence of future damages A. The calculation for all future economic damages shall reflect future changes in earning power or the purchasing power of the dollar. Future damages shall not be discounted to present value, except pursuant to section 12-589. B. Unless the court otherwise directs or the parties otherwise agree, the annual amounts […]
12-586. Entering a judgment for future damages A. If special findings for future damages are made, the court shall enter judgment pursuant to the following procedures: 1. The court shall apply to the findings of past and future damages any applicable rules of law in calculating the respective amounts of past and future damages each […]
12-587. Funding judgments for periodic installments A. Each party liable for all or a portion of a judgment containing periodic installments shall provide funding, separately or jointly, for the unpaid installments in a form prescribed in section 12-588. The funding shall be provided not later than the date the judgment is subject to execution or […]
12-588. Form of funding A. Funding authorized or required for payment of a judgment for periodic installments shall be approved by the court as sufficient to guarantee financial solvency and be in one or more of the following forms: 1. An annuity contract issued by one or more qualified insurers. 2. An agreement by one […]
12-589. Discounting future damages to present value A. If future damages are ordered to be paid in advance of the period to which they apply, the court shall compute the present value of the future payments by discounting each remaining annual payment by a rate of interest equal to the interest rate of the most […]
12-590. Effect of death on periodic installments A. The liability for payment of periodic installments for costs of health care not yet due at the death of the person entitled to receive the benefits terminates on the death of the person. Liability for payment of any other installments or portions of installments not yet due […]
12-591. Assignment of periodic installments An assignment of or an agreement to assign any right to periodic installments for future damages is not enforceable except for: 1. The payment of alimony, maintenance, spousal support or child support. 2. The costs of products, services or accommodations provided or to be provided by the assignee for health […]
12-592. Exemption of benefits Periodic installments for future damages for loss of earnings or loss of support for beneficiaries of a judgment entered in a wrongful death action are exempt from garnishment, attachment, execution and any other process or claim to the extent wages or earnings are exempt under any applicable law. Periodic installments for […]
12-593. Duties of the director of the department of insurance and financial institutions and insurance companies A. The director of the department of insurance and financial institutions shall adopt rules: 1. For determining which insurers and assignees are financially qualified to provide and maintain the funding required under this article and to be designated as […]
12-594. Arbitration and settlement agreements A. This article also applies to claims for bodily injury arising out of medical malpractice that are subject to arbitration either by law or if the parties have agreed to its application by contract. B. Parties to an action on any claim for bodily injury arising out of medical malpractice […]
