Indiana Code 34-18-6-4. Payment of claims; time for payment
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Sec. 4. (a) Claims for payment from the patient’s compensation fund must be computed and paid not later than sixty (60) days after the issuance of a court approved settlement or final nonappealable judgment.
(b) If the balance in the fund is insufficient to pay in full all claims that have become final during a three (3) month period, the amount paid to each claimant must be prorated. Any amount left unpaid as a result of the proration must be paid before the payment of claims that become final during the following three (3) month period.
[Pre-1998 Recodification Citation: 27-12-6-4.]
As added by P.L.1-1998, SEC.13. Amended by P.L.18-2014, SEC.1; P.L.182-2016, SEC.6.
Terms Used In Indiana Code 34-18-6-4
- Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
- Month: means a calendar month, unless otherwise expressed. See Indiana Code 1-1-4-5
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.