A.R.S. 12-588
Form of funding
A. Funding authorized or required for payment of a judgment for periodic installments shall be approved by the court as sufficient to guarantee financial solvency and be in one or more of the following forms:
1. An annuity contract issued by one or more qualified insurers.
2. An agreement by one or more qualified insurers to fund the judgment.
3. Any other form of funding which the court approves and to which the claimant consents.
B. Funding under this section qualifies as a required supersedeas bond.
C. In the event of a qualified assignment under section 130 of the internal revenue code of 1986, as amended, the qualified assignee and any qualified insurer shall be jointly and severally liable but the qualified insurer's obligation shall be the primary obligation.
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A.R.S. 12-589
Discounting future damages to present value
A. If future damages are ordered to be paid in advance of the period to which they apply, the court shall compute the present value of the future payments by discounting each remaining annual payment by a rate of interest equal to the interest rate of the most recent issue of fifty-two week United States treasury bills sold before the date damages are discounted.
B. To compute the present value of a lifetime award of future damages pursuant to section 12-584, subsection C, the duration of the term of payments shall be the life expectancy of the claimant at the time the computation is made prescribed by the race neutral life expectancy table for the appropriate sex in the current population survey collected by the bureau of the census for the bureau of labor statistics of the United States department of labor.
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A.R.S. 12-590
Effect of death on periodic installments
A. The liability for payment of periodic installments for costs of health care not yet due at the death of the person entitled to receive the benefits terminates on the death of the person. Liability for payment of any other installments or portions of installments not yet due at the death of the person entitled to receive them terminates, except as provided in subsections B and C.
B. If, in an action for wrongful death, a judgment for periodic installments provides payments to more than one person and one or more but fewer than all of them die, the surviving beneficiaries are entitled to shares proportionate to their shares in the periodic installments not yet paid to the deceased beneficiary or beneficiaries. The surviving beneficiaries are not entitled to receive payments beyond the periods specified for such beneficiaries in the judgment.
C. If, in an action other than for wrongful death, a judgment for periodic installments is entered and a person entitled to receive benefits for economic losses other than for costs of health care under the judgment dies, any periodic installments not yet due at the person's death shall be paid to a beneficiary designated in writing by the deceased or, in the absence of such a designation, to the estate of the deceased.
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A.R.S. 12-591, 12-592
Assignment of periodic installments (12-591)
An assignment of or an agreement to assign any right to periodic installments for future damages is not enforceable except for:
1. The payment of alimony, maintenance, spousal support or child support.
2. The costs of products, services or accommodations provided or to be provided by the assignee for health care.
3. Attorney fees and other litigation expenses incurred in obtaining or enforcing the judgment.
Exemption of benefits (12-592)
Periodic installments for future damages for loss of earnings or loss of support for beneficiaries of a judgment entered in a wrongful death action are exempt from garnishment, attachment, execution and any other process or claim to the extent wages or earnings are exempt under any applicable law. Periodic installments for all other future damages are exempt under garnishment, attachment, execution and any other process or claim except to the extent they may be assigned pursuant to section 12-591.