Delaware § 2359 Payment of award to bank in trust for employee or dependents

Delaware Statutes

§ 2359 — Payment of award to bank in trust for employee or dependents

Delaware·Title 19·Part Workers’ Compensation·Subch. Determination and Payment of Benefits; Procedure

(a)At any time after the entry of the award or after the filing of the agreement for compensation, a sum equal to all future installments of compensation may by leave of the Board where death or the nature of the injury renders the amount of future payments certain be paid by the employer to any savings bank or trust company approved by the Board which is chartered and doing business in this State and has an office in the county in which the award was entered. Such sum, together with all interest arising from the investment thereof, shall thereafter be held in trust for the employee, or the employee’s dependents, who shall have no further recourse against the employer.

(b)Payment by the employer pursuant to subsection (a) of this section shall operate as a satisfaction of the award or a

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(a) At any time after the entry of the award or after the filing of the agreement for compensation, a sum equal to all future installments of compensation may by leave of the Board where death or the nature of the injury renders the amount of future payments certain be paid by the employer to any savings bank or trust company approved by the Board which is chartered and doing business in this State and has an office in the county in which the award was entered. Such sum, together with all interest arising from the investment thereof, shall thereafter be held in trust for the employee, or the employee’s dependents, who shall have no further recourse against the employer.

(b) Payment by the employer pursuant to subsection (a) of this section shall operate as a satisfaction of the award or agreement as to the employer.

(c) Payments from the fund established pursuant to subsection (a) of this section shall be made by the trustee on orders from the Board in the same amounts and at the same periods as are required of the employer by this chapter. If, after liability has ceased, any balance of the fund remains, it shall be returned to the employer who deposited it, on a signed order of the Board.

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Legislative History

Code 1915, § 3193u; 29 Del. Laws, c. 233 ; 30 Del. Laws, c. 203, § 7 ; Code 1935, § 6091; 19 Del. C. 1953, § 2359; 70 Del. Laws, c. 172, § 4 ; 70 Del. Laws, c. 186, § 1