§ 12-581 Definitions
§ 12-582 Election of periodic payments
§ 12-583 Good cause hearing
§ 12-584 Special findings; future damages
§ 12-585 Evidence of future damages
§ 12-586 Entering a judgment for future damages
§ 12-587 Funding judgments for periodic installments
§ 12-588 Form of funding
§ 12-589 Discounting future damages to present value
§ 12-590 Effect of death on periodic installments
§ 12-591 Assignment of periodic installments
§ 12-592 Exemption of benefits
§ 12-593 Duties of the director of the department of insurance and insurance companies
§ 12-594 Arbitration and settlement agreements

Terms Used In Arizona Laws > Title 12 > Chapter 5.1 > Article 2

  • Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Bodily injury: means bodily harm, sickness, disease or emotional or mental distress, including death resulting from any of these conditions at any time, sustained by a person. See Arizona Laws 12-581
  • Claimant: means a person suffering bodily injury, a person claiming on behalf of or as a result of bodily injury to another person, the representative of the estate of a deceased person or a beneficiary of a wrongful death action. See Arizona Laws 12-581
  • Contract: A legal written agreement that becomes binding when signed.
  • Costs of health care: means medical, custodial, rehabilitative and related expenses. See Arizona Laws 12-581
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Economic loss: means pecuniary harm for which damages are recoverable. See Arizona Laws 12-581
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Future damages: means economic loss and noneconomic loss arising from bodily injury which accrues after trial of a claim under this article. See Arizona Laws 12-581
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
  • Noneconomic loss: means nonpecuniary harm for which damages are recoverable but does not include punitive or exemplary damages. See Arizona Laws 12-581
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Past damages: means economic loss and noneconomic loss arising from bodily injury which have accrued before a claim is tried under this article, including punitive or exemplary damages. See Arizona Laws 12-581
  • Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
  • Population: means the population according to the most recent United States decennial census. See Arizona Laws 1-215
  • Process: means a citation, writ or summons issued in the course of judicial proceedings. See Arizona Laws 1-215
  • Qualified insurer: means an insurer, self-insurer, plan or arrangement approved by the director of the department of insurance. See Arizona Laws 12-581
  • 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.
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
  • Writing: includes printing. See Arizona Laws 1-215