(820 ILCS 305/23) (from Ch. 48, par. 138.23)
Sec. 23. No employee, personal representative, or beneficiary shall have
power to waive any of the provisions of this Act in regard to the amount
of compensation which may be payable to such employee, personal
representative or beneficiary hereunder except after approval by the
Commission and any employer, individually or by his agent, service company
or insurance carrier who shall enter into any payment purporting to compromise
or settle the compensation rights of an employee, personal representative
or beneficiary without first obtaining the approval of the Illinois Workers' Compensation Commission
as aforesaid shall be barred from raising the defense of limitation in any
proceedings subsequently brought by such employee, personal representative
or beneficiary.
A minor death beneficiary, by parent or grandparent as next friend, may
compromise disputes and may enter into and submit a settlement contract or
lump sum petition, and upon approval by the Commission such settlement
contract or lump sum order shall have the same force and effect as though
such minor had been an adult.
(Source: P.A. 93-721, eff. 1-1-05.)
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