PART III of IV §10135. “Transfers governed by article; Requirements
- 10135 third subsection (c) the third of three (3) types of transfers allowed under structured settlement law is :
- Third type of transfer
(c) This article is only applicable to transfers of structured settlement payment rights if one of the following requirements is met:
(1) The payee is domiciled in California at the time the transfer agreement is signed by the payee.
(2) The payee is not domiciled in California at the time the transfer agreement is signed and the state where the payee is domiciled does not have a structured settlement transfer statute, but either the structured settlement obligor or annuity issuer is domiciled in California.
States that DO NOT HAVE A STRUCTURED SETTLEMENT STATUTE:
- New Hampshire
For more details on living outside of California with a “California” structured settlement that you need to transfer the payment rights, call an independent professional adviser to get the most up to date information.
- Domicile means, the place where a person has his/her permanent principal home to which he/she returns or intends to return.
- If a person has many domiciles, then their principle domicile would be the one in the state where they file taxes, or where their principal place of business is located.
- If there is no “domicile” and the person lives “on the road”, the domicile is the state where that person conducts the most business: mail/taxes/work/business/family/car repair/church.
Originally posted 2015-01-16 21:12:37. Republished by Blog Post Promoter