H. B. 2409
(By Delegates G. Martin, Thomas and Haskins)
[Introduced February 8, 1995; referred to the
Committee on the Judiciary.]
A BILL to amend article six, chapter fifty-six of the code of
West Virginia, one thousand nine hundred thirty-one, as
amended, by adding thereto a new section, designated section
thirty-one-a, relating to providing for the periodic
payments of judgments over five hundred thousand dollars.
Be it enacted by the Legislature of West Virginia:
That article six, chapter fifty-six of the code of West
Virginia, one thousand nine hundred thirty-one, as amended, be
amended by adding thereto a new section, designated section
thirty-one-a, to read as follows:
ARTICLE 6. TRIAL.
§56-6-31a. Periodic payments on judgments or decrees above
five hundred
thousand
dollars.
On any judgment or decree in excess of five hundred thousand
dollars, rendered by a jury in pursuit of its duties under the
authority of a court of competent jurisdiction, or by a judge of
a court of competent jurisdiction, as compensation for an injury
or injuries to a person or persons, payments shall be made in
periodic installments unless otherwise agreed by the judgment
debtor. Any judgment or decree applicable to the provisions of
this section shall be paid in monthly, bi-annual or annual
installments, at the option of the judgment creditor: Provided,
That such installment payments shall be based on generally
accepted actuarial principles: Provided, however, That in the
event that a clear and weighted majority of credible medical
evidence exists that an injury or disability for which a judgment
or decree, applicable to the provisions of this section, has been
awarded, is temporary and that the injured or disabled person for
which such award was intended is expected to fully recover, then
the installment payments required to be paid hereunder shall be
paid in periodic installments until the approximate date that the
person is expected to recover: Provided further, That in the
event an injured or disabled person for which a judgment or
decree, applicable to the provisions of this section, has been
awarded, dies before the date of the last scheduled installment payment, then the next of kin of such person shall be entitled to
any remaining payments at the scheduled times such payments are
due and payable.
NOTE: The purpose of this bill is to provide for periodic
installment payments for judgments rendered for personal injuries
that are in excess of five hundred thousand dollars.
Section thirty-one-a is new; therefore, strike-throughs and
underscoring have been omitted.