(a) Upon application of either party, and on due notice to the other, the compensation contemplated by this chapter may be commuted by the Board at its present value when discounted at 5% interest, with annual rests, disregarding, except in commuting payments due under § 2324 of this title, the probability of the beneficiary’s death. Such commutation may be allowed if it appears that it will be for the best interest of the employee or the dependents of the deceased employee, or that it will avoid undue expense or hardship to either party, or that such employee or dependent has removed or is about to remove from the United States or that the employer has sold or otherwise disposed of the whole or the greater part of the injured employee’s or the dependents of a deceased employee’s business or assets. It shall not be allowed for the purpose of enabling the injured employee or the dependents of a deceased employee to satisfy a debt created before the accident, other than a mortgage upon the injured employee’s or the dependents of a deceased employee’s or their home or household furniture.

(b) The Board shall not approve a proposed commutation under this section without considering information regarding the amount of attorneys’ fees and costs, if any, employee will pay in connection with the proposed commutation. The Board shall not separately approve the attorneys’ fees to be paid by the employee, but shall approve or deny the proposed commutation based upon the best interests of the employee in light of the employee’s net recovery after fees and expenses are deducted.

Code 1915, § 3193t; 29 Del. Laws, c. 233; Code 1935, § 6090; 19 Del. C. 1953, § 2358; 50 Del. Laws, c. 339, § 16; 70 Del. Laws, c. 172, § 4; 70 Del. Laws, c. 186, § 1; 76 Del. Laws, c. 1, § 20.