TITLE 50: INSURANCE
CHAPTER II: INDUSTRIAL COMMISSION
PART 7070 SETTLEMENT CONTRACTS AND LUMP SUM PETITIONS
SECTION 7070.20 AGREED PETITIONS FOR LUMP SUM SETTLEMENT
Section 7070.20 Agreed Petitions for Lump Sum Settlement
a) All of the requirements set forth in Section 7070.10 shall have equal applicability to agreed Petitions for Lump Sum Settlement.
b) In all cases, but particularly those involving either minor Petitioners or minor beneficiaries, the Commission reserves the right to elicit evidence concerning the use to which the proceeds of the settlement are to be put pursuant to Section 9 of the Act.
c) Where commutation is requested, the Commission reserves the sole right to compute the allowable commutation and enter the net amount ordered paid by the Respondent.
(Source: Amended at 6 Ill. Reg. 8040, effective July 1, 1982)