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.
Structure Indiana Code
Title 34. Civil Law and Procedure
Article 13. Causes of Action: Claims Against the Government
Chapter 3. Tort Claims Against Governmental Entities and Public Employees
34-13-3-0.1. Application of Certain Amendments to Chapter
34-13-3-0.2. Application of Certain Amendments to Prior Law
34-13-3-1. Applicability of Chapter
34-13-3-2. Applicability of Chapter
34-13-3-2.3. Applicability of Chapter to Ncsl 2020 Legislative Summit Host Committee
34-13-3-3. Immunity of Governmental Entity or Employee
34-13-3-4. Limitation on Aggregate Liability; Punitive Damages Prohibited
34-13-3-6. Notice to Attorney General and State Agency Involved
34-13-3-7. Administrative Claim for Inmate's Recovery of Property
34-13-3-8. Claims Against Political Subdivisions; Notice Requirement
34-13-3-9. Incapacitated Plaintiffs; Notice Requirement
34-13-3-10. Notice Requirement; Form of Statement
34-13-3-11. Approval or Denial of Claim by Government Entity
34-13-3-12. Notice Requirements; Service
34-13-3-13. Denial of Claim as Prerequisite to Suit
34-13-3-14. Compromise or Settlement of Claim by Governor
34-13-3-15. Attorney General; Powers and Duties
34-13-3-16. Compromise or Settlement of Claim by Political Subdivision
34-13-3-17. Enforcement of Judgments Against Governmental Entities
34-13-3-18. Time for Payment of Claim or Judgment; Interest Rate
34-13-3-19. Applicability of Ic 34-13-3-18; Settlement
34-13-3-20. Liability Insurance; Prohibitions
34-13-3-21. Attorney's Fees; Allowance to Governmental Entity; Action for Abuse of Process
34-13-3-22. Persons or Entities Considered Political Subdivisions
34-13-3-23. Structured Settlement; Discharge; Limits
34-13-3-24. Appropriations for Payment of Claims and Expenses
34-13-3-25. Presentation of Vouchers and Issuance of Warrants for Appropriations