Section 63M-7-521 - Reparations award - Payment methods - Claims against the award(1)(a) Except as provided in Subsection (1)(b), a reparations officer may provide for the payment of a reparations award in a lump sum or in installments.(b)(i) The reparations officer shall pay the part of a reparations award equal to the amount of economic loss accrued to the date of the reparations award in a lump sum.(ii) A reparations officer may not pay allowable expense that would accrue after an initial reparations award is made in a lump sum.(iii) Except as provided in Subsection (2), a reparations officer shall award the part of a reparations award that may not be paid in a lump sum under this Subsection (1)(b) in installments.(2) At the request of the claimant, the reparations officer may convert future economic loss installment payments, other than allowable expense, to a lump sum payment, discounted to present value, but only upon a finding by the reparations officer that the reparations award in a lump sum will promote the interests of the claimant.(3)(a) A reparations award for future economic loss payable in installments may be made only for a period for which the reparations officer can reasonably determine future economic loss.(b) The reparations officer may reconsider and modify a reparations award for future economic loss payable in installments, upon the reparations officer's finding that a material and substantial change of circumstances has occurred.(4) A reparations award is not subject to execution, attachment, or garnishment, except that a reparations award for allowable expense is not exempt from a claim of a creditor to the extent that the creditor provided products, services, or accommodations, the costs of which are included in the reparations award.(5) An assignment or agreement to assign a reparations award for loss accruing in the future is unenforceable, except: (a) an assignment of a reparations award of reparations for work loss to secure payment of alimony, maintenance, or child support;(b) an assignment of a reparations award for allowable expense to the extent that the benefits are for the cost of products, services, or accommodations necessitated by the injury or death on which the reparations claim is based and are provided or to be provided by the assignee; or(c) an assignment to repay a loan obtained to pay for the obligations or expenses described in Subsection (5)(a) or (b).Amended by Chapter 149, 2020 General Session ,§ 19, eff. 5/12/2020.Amended by Chapter 339, 2008 General Session
Renumbered and Amended by Chapter 382, 2008 General Session.