Block 11.3 Article 2.3 Transfers of Structured Settlement Payment Rights

Block 11.3 Article 2.3 Transfers of Structured Settlement Payment Rights 10136(c)(11) Justice Continues to Prevail for Consumers; Court Jurisdiction   In an effort to protect the consumer, California legislators once again Continue reading Block 11.3 Article 2.3 Transfers of Structured Settlement Payment Rights

Transfers of Structured Settlement Payment Rights

Block 16.1  Article 2.3 Transfers of Structured Settlement Payment Rights   Law Requiring Service On the Attorney General of all Transfer Documents:  Introducing CA Insurance Code 10139(a)   This task is the responsibility of the transfer company, and if it isn’t done, the transfer will not go through.  The filing to the Attorney General takes place at the same time the transfer company files the petition to the Superior Court.   You can visit this website:  http://oag.ca.gov/services-info-3 and view the Attorney General’s law on receiving documents of transfers from Superior Courts.  Just scroll down the opening page of the above […]

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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!

Structured Settlement Payment Rights

Article 2.3 Transfers of Structured Settlement Payment Rights   Tax Liability to Whom?  Stepping into the Shoes of the Third Party Beneficiary   California Insurance Code says if your the person “stepping into the shoes of the third party beneficiary” (assignee),  you share the tax liability, if any, with the transfer company and you both are liable to the structured settlement obligor, and to the annuity issuer, if the transfer does not comply with California Insurance Code 10134-10139.5 OR if the transfer company and the assignee individually or both are noncompliant.   10139.3(d) states, “The transferee and any assignee shall […]

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Structured Settlement Payment Rights

Article 2.3 Transfers of Structured Settlement Payment Rights   Tax Liability to Whom?  Stepping into the Shoes of the Third Party Beneficiary   California Insurance Code says if your the person “stepping into the shoes of the third party beneficiary” (assignee),  you share the tax liability, if any, with the transfer company and you both are liable to the structured settlement obligor, and to the annuity issuer, if the transfer does not comply with California Insurance Code 10134-10139.5 OR if the transfer company and the assignee individually or both are noncompliant.   10139.3(d) states, “The transferee and any assignee shall […]

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Filing Structured Settlement Transfer

Block 16.4 Article 2.3 Transfers of Structured Settlement Payment Rights   OAG May Charge for Filing Structured Settlement Transfer Agreement   California Insurance Code 10139(c) simply states, “The Attorney General may charge a reasonable fee for the filing of the transfer agreement as provided in this section.  The fee shall be paid by the transferee.”   Just as there is a filing fee for the petition to the Superior Court, there can be a filing fee for the transfer agreement to the Attorney General’s Office too.  Note that this fee is for the filing itself, not for a “review”, if […]

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