Indiana § 34-13-3-23 - Structured settlement; discharge; limits
Full text of Indiana Indiana Code § 34-13-3-23 — Structured settlement; discharge; limits, with citation guidance and answers to common questions.
§ 34-13-3-23. Structured settlement; discharge; limits
Sec. 23. (a) With the consent of the claimant, a political subdivision may compromise or settle a claim or suit by means of a structured settlement under this section.
(b) A political subdivision may discharge settlement of a claim or suit brought under this chapter by:
(1) an agreement requiring periodic payments by the political subdivision over a specified number of years;
(2) the purchase of an annuity;
(3) by making a "qualified assignment" of the liability of the political subdivision as defined by the provisions of 26 U.S.C. 130(c);
(4) payment in a lump sum; or
(5) any combination of subdivisions (1) through (4).
(c) The present value of a structured settlement shall not exceed the statutory limits set forth in section 4 of this chapter; however, the periodic or annuity payments may exceed these statutory limits. The present value of any periodic payments may be determined by discounting the periodic payments by the same percentage as that found in Moody's Corporate Bond Yield Average Monthly Average Corporates, as published by Moody's Investors Service, Incorporated.
[Pre-1998 Recodification Citation: 34-4-16.5-21.]
As added by P.L.1-1998, SEC.8.
Frequently Asked Questions About Indiana § 34-13-3-23
What does Indiana Code § 34-13-3-23 cover?
Section 34-13-3-23 ("Structured settlement; discharge; limits") 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 § 34-13-3-23?
A common citation format is "Indiana Code § 34-13-3-23" (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 § 34-13-3-23 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.