The New Mexico Structured Settlement Protection Act

The New Mexico Structured Settlement Protection Statute N. M. S. A. 1978, § 39-1A-2 § 39-1A-1. Short title This act may be cited as the “Structured Settlement Protection Act”. § 39-1A-2. Definitions As used in the Structured Settlement Protection Act: A. “annuity issuer” means an insurer that has issued a contract to fund periodic payments under a structured settlement; B. “court” means: (1) the court of original jurisdiction that authorized or approved a structured settlement; or (2) if the court that authorized or approved the structured settlement no longer has jurisdiction to approve a transfer of payment rights under the […]

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The Maryland Structured Settlement Protection Act

The Maryland Structured Settlement Protection Statute MARYLAND CODE COURTS AND JUDICIAL PROCEEDINGS Current through 2001 § 5-1101.(a) In this subtitle the following words have the meanings indicated. (b) “Discounted present value” means the fair present value of future payments, as determined by discounting payments to the present using the most recently published applicable federal rate for determining the present value of an annuity, as issued by the United States Internal Revenue Service. (c) “Independent professional advice” means advice of an attorney, certified public accountant, actuary, or other licensed professional adviser: (1) Who is engaged by a payee to render advice […]

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California Insurance Code Fights for Justice with Independent Professional Advisers!

Block 11.2 Article 2.3 Transfers of Structured Settlement Payment Rights 10136(c)(10) California Insurance Code Fights for Justice with Independent Professional Advisers!   Justice is leveraged as California legislators mandate transfer companies Continue reading California Insurance Code Fights for Justice with Independent Professional Advisers!

National Association of Settlement Purchasers – NASP

National Association of Settlement Purchasers – NASP The National Association of Settlement Purchasers (NASP) was directly involved in getting the secondary market for structured settlement recognized and regulated.  They lobbied hard Continue reading National Association of Settlement Purchasers – NASP

Secondary Market Annuities: An Overview of the Asset, the Risk, the Rate of Return, the Purchase Process, and the Under-Writing

Secondary Market Annuities: An Overview of the Asset, the Risk, the Rate of Return, the Purchase Process, and the Under-Writing What is a “Secondary Market Annuity”?  Sometimes referred also to as Continue reading Secondary Market Annuities: An Overview of the Asset, the Risk, the Rate of Return, the Purchase Process, and the Under-Writing

Merry Christmas

​Christmas or Christmas Day (Old English: Crīstesmæsse, meaning “Christ’s Mass”) is an annual festival commemorating the birth of Jesus Christ,[7][8] observed most commonly on December 25[4][9][10] as a religious and cultural celebration among billions of people around the world.[2][11][12] A feast central to the Christian liturgical year, it is prepared for by the season ofAdvent or the Nativity Fast&nb […] Continue reading Merry Christmas

Buying Structured Settlements

Buying Structured Settlements Buying of structured settlements in the secondary market has been a booming business that has until of late been relatively a top-secret need to know topic. What are you buying? Well, you are buying a future payment stream. usually as an award of the court for some sort of personal injury settlement. Where the settlement was invested in an annuity to provide for a larger payment over time. Now you aren’t buying the payments at face value, in fact; the IRS has a calculation that is used to figure out what that future payment is valued at […]

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Transfers of Structured Settlement Payment

Transfers of Structured Settlement Payment Rights   Compliance to Contract Writing is the Responsibility of the Transfer Company   The California Insurance Code puts the onus on the transfer company to get all of the contracts right.  The Insurance Code spells out the terms of the disclosure statement, and the transfer agreement in Sections 10136, 10137, and 10138 to the transfer company, and only the transfer company. The code below states that it is the sole responsibility of the transfer company to draft these and any other necessary contracts to “seal the deal” for a successful transfer of payment rights. […]

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