Section 6-11-4 Requirements when judgment structured; termination.
Section 6-11-4
Requirements when judgment structured; termination.
Where a judgment is structured pursuant to Section 6-11-3 above, the following shall apply:
(1) Should the judgment creditor die before the final installment is paid, the remaining payments shall be made to the estate of the decedent, or as otherwise directed by the court having jurisdiction over the estate.
(2) Where an installment payment is more than 15 days late, there shall be added to the amount due for that installment interest from the date payment was due at the rate of 20 percent per annum, compounded daily, and attorney's fee if necessary to collect the amount due.
(3) Upon motion of the judgment creditor, or his estate in the event of this death, the structure may be terminated and all unpaid installments declared immediately due if the court finds that the judgment debtor has exhibited a continuing pattern of failing to pay installments when due or that there is a reasonable likelihood that future payments may not be timely made. In all such cases, the court may further assess the debtor with costs and the creditor's attorney's fees relating to all proceedings conducted pursuant to this paragraph.
(4) No certificate of judgment shall issue or be recorded against any defendant for that portion of an award of future damages which is structured.
(Acts 1987, No. 87-183, p. 245, §4.)