Page:United States Statutes at Large Volume 73.djvu/430

 392 33 USC 944.

33 USC 907.

PUBLIC LAW 86-171-AUG. 18, 1959

[73 S T A T.

"(c) The payment of such compensation into the fund established ii^ section 44 shall operate as an assignment to the employer of all right of the legal representative of the deceased (hereinafter referred to as "representative") to recover damages against such third person. " (d) Such employer on account of such assignment may either institute proceedings for the recovery of such damages or ma^ compromise with such third person either without or after instituting such proceeding. "(e) Any amount recovered by such employer on account of such assignment, whether or not as the result of a compromise, shall be distributed as follows: " (1) The employer shall retain an amount equal to— " (A) the expenses incurred by him in respect to such proceedings or compromise (including a reasonable attorney's fee as determined by the deputy commissioner); " (B) the cost of all benefits actually furnished by him to the employee under section T; " (C) all amounts paid as compensation; " (D) the present value of all amounts thereafter payable as compensation, such present value to be computed in accordance with a schedule prepared by the Secretary, and the present value of the cost of all benefits thereafter to be furnished under section 7, to be estimated by the deputy commissioner, and the amounts so computed and estimated to be retained by the employer as a trust fund to pay such compensation and the cost of such benefits as they become due, and to pay any sum finally remaining in excess thereof to the person entitled to compensation or to the representative; and "(2) The employer shall pay any excess to the person entitled to compensation or to the representative, less one-fifth of such excess which shall belong to the employer. " (f) If the person entitled to compi^nsation institutes proceedings within the period prescribed in section 33(b) the employer shall be required to pay as compensation undeij this Act a sum equal to the excess of the amount which the Secretary deteimines is payable on account of such injury or death over the amount recovered against such third person. " (g) If compromise with such third person is made by the person entitled to compensation or such representative of an amount less than the compensation to which such person or representative would be entitled to under this Act, the employer shall be liable for compensation as determined in subdivision (f) only if such compromise is made with his written approval. " (h) Where the employer is insured and the insurance carrier has assumed the payment of the compensation, the insurance carrier shall be subrogated to all the rights of the employer under this section. "(i) The right to compensation or benefits under this Act shall be the exclusive remedy to an employee when he is injured, or to his eligible survivors or legal representatives if he is killed, by the negligence or wrong of any other person or persons in the same employ: Prcyvided^ That this provision shall not affect the liability of a person other than an officer or employee of the employer." Approved August 18, 1959.

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