§ 5036. Adjustment of payments. (a) If, at any time after entry of
judgment, a judgment creditor or successor in interest can establish
that the continued payment of the judgment in periodic installments will
impose a hardship, the court may, in its discretion, order that the
remaining payments or a portion thereof shall be made to the judgment
creditor in a lump sum. The court shall, before entering such an order,
find that: (i) unanticipated and substantial medical, dental or other
needs have arisen that warrant the payment of the remaining payments, or
a portion thereof, in a lump sum; (ii) ordering such a lump sum payment
would not impose an unreasonable financial burden on the judgment debtor
or debtors; (iii) ordering such a lump sum payment will accommodate the
future medical and other needs of the judgment creditor; and (iv)
ordering such a lump sum payment would further the interests of justice.

(b) If a lump sum payment is ordered by the court, such payment shall
be made by the medical malpractice insurance association created
pursuant to article fifty-five of the insurance law and shall not be the
obligation of the insurer providing the initial annuity contract. Such
insurer shall thereafter make all future payments due under its annuity
contract to the association, except that, if the lump sum payment
ordered by the court is a portion of the remaining periodic payments,
such insurer shall appropriately apportion future payments due under its
annuity contract between the association and the judgment creditor or
successor in interest. Such lump sum payment to be paid to the judgment
creditor or successor in interest by the association shall be calculated
on the basis of the present value of the annuity contract, which shall
be based on its cost at such time, for remaining periodic payments, or
portions thereof, that are converted into a lump sum payment. In no
event shall such lump sum payment be greater than the present value of
the annuity contract for the remaining periodic payments.