Indiana § 22-3-3-25 - Lump sum payments; minors; interest rate
Full text of Indiana Indiana Code § 22-3-3-25 — Lump sum payments; minors; interest rate, with citation guidance and answers to common questions.
§ 22-3-3-25. Lump sum payments; minors; interest rate
Sec. 25. (a) In unusual cases, upon the agreement of the employer and the employee or his dependents, and the insurance carrier, and the approval of the worker's compensation board, compensation may be redeemed, in whole or in part, by the cash payment, in a lump sum, of the commutable value of the installments to be redeemed.
(b) The board may, at any time, in the case of permanently disabling injuries of a minor, require that he be compensated by the cash payment in a lump sum of the commutable value of the unredeemed installments of the compensation to which he is entitled.
(c) In all such cases, the commutable value of the future unpaid installments of compensation shall be the present value thereof, at the rate of three percent (3%) interest, compounded annually.
Formerly: Acts 1929, c.172, s.43; Acts 1937, c.214, s.4; Acts 1947, c.162, s.11. As amended by P.L.28-1988, SEC.31.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 22-3-3-25
What does Indiana Code § 22-3-3-25 cover?
Section 22-3-3-25 ("Lump sum payments; minors; interest rate") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 22-3-3-25?
A common citation format is "Indiana Code § 22-3-3-25" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 22-3-3-25 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.