By agreement of the parties and with approval of the court, the amounts of compensation payable periodically, under this article and Article 4 of this chapter, may be commuted to one or more lump sum payments. No commutation shall be approved by the court unless the court is satisfied that it is in the best interest of the employee or the employee's dependent, in case of death, to receive the compensation in a lump sum rather than in periodic payments. In making the commutations, the lump sum payment shall, in the aggregate, amount to a sum equal to the present value of all future installments of compensation calculated on a six percent basis.
Structure Code of Alabama
Title 25 - Industrial Relations and Labor.
Chapter 5 - Workers' Compensation.
Article 3 - Elective Compensation Under Contract of Employment.
Section 25-5-51 - Right to Compensation for Injuries or Death; Grounds for Denial of Compensation.
Section 25-5-52 - Manner of Compensation, etc., Provided by Chapter Exclusive.
Section 25-5-54 - Presumptions as to Applicability and Acceptance of Provisions of Articles.
Section 25-5-56 - Settlements Between Parties.
Section 25-5-57 - Compensation for Disability.
Section 25-5-58 - Effect of Preexisting Injuries or Infirmities.
Section 25-5-59 - Waiting Period for Compensation; Penalty for Overdue Compensation Payments.
Section 25-5-60 - Compensation for Death.
Section 25-5-61 - Persons Presumed Wholly Dependent.
Section 25-5-63 - Total Dependents - Maximum Compensation.
Section 25-5-62 - Total Dependents - Designated; Order of Compensation.
Section 25-5-64 - Partial Dependents.
Section 25-5-65 - Compensation of Orphans or Other Children.
Section 25-5-67 - Burial Expenses.
Section 25-5-68 - Maximum and Minimum Weekly Compensation.
Section 25-5-76 - Liability of Joint Employers.
Section 25-5-78 - Written Notice to Employer of Accident - Required.
Section 25-5-79 - Written Notice to Employer of Accident - Service and Contents.
Section 25-5-80 - Limitation Period for Claims or Actions for Compensation.
Section 25-5-81 - Determination of Disputed Compensation Claims Generally.
Section 25-5-82 - Compensation for Death to Be Paid Only to United States Residents.
Section 25-5-83 - Commutation of Compensation to Lump Sum Payments.
Section 25-5-84 - Modification of Payments.
Section 25-5-85 - Procedure for and Effect of Payment of Compensation to Court Appointed Trustee.
Section 25-5-87 - Preference of Right to Compensation, Etc.
Section 25-5-91 - Forwarding of Copy of Judgment, etc., to Probate Court; Creation of Judgment Lien.
Section 25-5-92 - Discharge of Lien Upon Judgment Payable Periodically.