§ 115B.36 — Amount and Form of Payment
Plain-Language Summary
When the agency approves a claim, it calculates the net uncompensated loss by subtracting any compensation already received from other sources (insurance, Social Security, etc.) from the total eligible losses. The maximum payment to any claimant is $250,000, and in death cases the combined total for all beneficiaries may not exceed $250,000. The agency may pay the award in a lump sum or in installments.
115B.36 AMOUNT AND FORM OF PAYMENT.
(a) If the agency decides to grant compensation, it shall determine the net uncompensated loss payable to the claimant by computing the total amount of compensable losses payable to the claimant and subtracting the total amount of any compensation received by the claimant for the same injury or damage from other sources including, but not limited to, all forms of insurance and Social Security and any emergency award made by the agency. The agency shall pay compensation in the amount of the net uncompensated loss, provided that no claimant may receive more than $250,000. In the case of a death, the total amount paid to all persons on behalf of the claimant may not exceed $250,000.
(b) Compensation from the fund may be awarded in a lump sum or in installments at the discretion of the agency.
History:
1Sp1985 c 8 s 15; 1991 c 199 art 1 s 27; 2002 c 379 art 2 s 19; 2003 c 128 art 2 s 24
History: History: 1Sp1985 c 8 s 15; 1991 c 199 art 1 s 27; 2002 c 379 art 2 s 19; 2003 c 128 art 2 s 24