§ 13-64-206 — Periodic installment obligations

(1) A judgment for periodic
payments under this part 2 shall provide that:

(a) Such periodic payments are fixed and determinable as to amount and
time of payment;

(b) Such periodic payments cannot be accelerated, deferred, increased, or
decreased by the recipient of such payments; and

(c) The recipient of such payments shall be a general creditor of the
qualified insurer.

(2) Unless the court directs otherwise and the parties otherwise agree,
payments shall be scheduled at one-month intervals. Payments for damages
accruing during the scheduled intervals are due at the beginning of the intervals.
For good cause shown, the court may direct that periodic payments shall continue
for an initial term of years notwithstanding the death of the judgment creditor
during that term.

(3) Money damages awarded for loss of future earnings shall not be reduced
or payments terminated by reason of the death of the judgment creditor. Any such
remaining periodic payments shall be paid to the heirs and devisees of the
judgment creditor. Payments for future damages other than loss of future earnings
shall cease at the death of the judgment creditor.

Legislative History

Source: L. 88: Entire article added, p. 615, � 1, effective July 1.