2006 Minnesota Statutes

176.171 PAYMENT TO TRUSTEE.
At any time after the amount of any award or commutation is finally determined, a sum equal
to the present value of all future installments of the compensation, calculated on a five percent
basis, where death or the nature of the injury renders the amount of future payments certain,
may be paid by the employer to any bank, mutual savings bank, savings association, or trust
company in this state approved and designated by the commissioner of the Department of Labor
and Industry, compensation judge, or Workers' Compensation Court of Appeals in cases upon
appeal. Such sum, together with all interest thereon, shall be held in trust for the employee or for
the dependents of the employee, who shall have no further recourse against the employer. The
employer's payment of this sum evidenced by a receipt of the trustee filed with the commissioner
of the Department of Labor and Industry, operates as a satisfaction of the compensation liability
as to the employer. The trustee shall make payments from the fund in the same amounts and at
the same time as are required of the employer until the fund and interest is exhausted, except
when otherwise ordered by the commissioner of the Department of Labor and Industry. In the
appointment of trustee the preference shall be given to the choice of the injured employee or the
choice of the dependents of the deceased employee.
History: 1953 c 755 s 20; 1971 c 422 s 3; 1973 c 388 s 47; 1975 c 271 s 6; 1975 c 359 s
23; 1976 c 134 s 78; 1995 c 202 art 1 s 25