Title 34, Chapter 9, Section 222
( 34-9-222)
(a) Upon the application of any party when benefits have been
continued for a period of not less than 26 weeks, if the board
determines that it is for the best interest of the claimant to
prevent extreme hardship or is essential to the rehabilitation of
the claimant, the board may order that the liability of the employer
for future income benefits be discharged by the payment of a lump
sum equal to the sum of all future payments, reduced to their
present value upon the basis of interest calculated at 7 percent per
annum. (b) Under the same requirements of subsection (a) of this Code
section, the board may order the employer to make advance payments
of a part of the future income benefits by payment of a lump sum
equal to such part of future payments. The repayment of partial lump
sum advance payments, together with interest of 7 percent per annum,
may be accomplished by reducing the period of payment or reducing
the weekly benefit, or both, as may be directed by the board. |