Louisiana § 23:1274 Lump sum settlements; necessity for approval

Louisiana Statutes

§ 23:1274 — Lump sum settlements; necessity for approval

Louisiana·Title 23 Labor and Workers' Compensation

§1274. Lump sum settlements; necessity for approval

A.The amounts payable as compensation may be commuted to a lump sum settlement by agreement if approved by the workers' compensation judge as provided in this Part. In a lump sum settlement, the payments due the employee or his dependents shall not be discounted at a greater rate than eight percent per annum.

B.If the lump sum settlement is made without the approval of the workers' compensation judge, or at a discount greater than eight percent per annum, even if approved by the assistant secretary or the workers' compensation judge, the employer shall be liable for compensation at one and one-half times the rate fixed by this Chapter. At any time within two years after date of the payment of the lump sum settlement and notwithstanding

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§1274. Lump sum settlements; necessity for approval
A. The amounts payable as compensation may be commuted to a lump sum
settlement by agreement if approved by the workers' compensation judge as provided
in this Part. In a lump sum settlement, the payments due the employee or his
dependents shall not be discounted at a greater rate than eight percent per annum.
B. If the lump sum settlement is made without the approval of the workers'
compensation judge, or at a discount greater than eight percent per annum, even if
approved by the assistant secretary or the workers' compensation judge, the employer
shall be liable for compensation at one and one-half times the rate fixed by this
Chapter. At any time within two years after date of the payment of the lump sum
settlement and notwithstanding any other provision of this Chapter, the claimant shall
be entitled to demand and receive in a lump sum from the employer such additional
payment as together with the amount already paid, will aggregate one and one-half
times the compensation which would have been due but for such lump sum
settlement.
C. Upon payment of a lump sum settlement commuted on a term agreed
upon by the parties, approved by the workers' compensation judge, and discounted
at not more than eight percent per annum, the liability of the employer or his insurer
making the payment shall be fully satisfied.
D. For the settlement of compensation claims as provided in R.S. 23:1231
through 1236 the following procedure shall be followed. The claimant must present
to the employer an affidavit of death of the employee, proper proof of the claimant's
relationship to the deceased and his legal right to the compensation benefits. Such
documentation shall be affixed to the joint petition and submitted to the workers'
compensation judge for approval as hereinabove provided.

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Legislative History

Acts 1977, No. 40, §1; Acts 1982, No. 611, §1; Acts 1983, 1st Ex. Sess., No. 1, §1, eff. July 1, 1983; Acts 1988, No. 938, §1, eff. July 1, 1989; Acts 1989, No. 23, §1, eff. June 15, 1989; Acts 1989, No. 260, §1, eff. Jan. 1, 1990; Acts 1997, No. 88, §1, eff. June 11, 1997.