ARTICLE 2. COMPENSATION
§ 32. Waiver agreements
No agreement or release except as otherwise provided in this chapter by an employee to waive his right to compensation under this chapter shall be valid.
- Whenever a claim has been filed, the claimant or the deceased claimant's dependents and the employer or his carrier may enter into an agreement settling upon and determining the compensation and other benefits due to the claimant or their dependents. The agreement shall not bind the parties to it, unless it is approved by the board. Such agreements, when so approved, notwithstanding any other provisions, shall be final and conclusive upon the claimant, the claimants dependents, the employer and the insurance carrier.
- The agreement shall be approved by the board in a decision duly filed and served unless:
- the board finds the proposed agreement unfair, unconscionable, or improper as a matter of law;
- the board finds that the proposed agreement is the result of an intentional misrepresentation of material fact; or,
- within ten days of submitting the agreement one of the interested parties requests that the board disapprove the agreement.
- A decision duly filed and served approving an agreement submitted to the board shall not be subject to review pursuant to section twenty-three of this article. However, a decision duly filed and served disapproving an agreement submitted to the board is subject to review pursuant to section twenty-three of this article. If the board disapproves of an agreement it shall duly file and serve a notice of decision setting aside the proposed agreement.
- An agreement for compensation and other benefits covered by this chapter may be modified at anytime by agreement of all interested parties provided it is approved by the board.