The West Virginia Structured Settlement Protection Statute

The West Virginia Structured Settlement Protection Statute ARTICLE 6H. TRANSFERS OF RIGHT TO RECEIVE FUTURE PAYMENTS. §46A-6H-1. Definitions. For the purposes of this article: (1) “Closing date” means the date the transfer agreement is executed by the consumer and the transferee, and shall be at least fourteen days after the requisite disclosures have been provided to the consumer and interested parties. (2) “Consumer” means any person entitled to receive periodic future payments from an annuity issuer, settlement obligor or any other party as the result of an annuity, settlement, lottery winnings, sweepstakes payoff or other future payment arrangement. (3) “Discounted […]

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The Nebraska Structured Settlement Protection Act

The Nebraska Structured Settlement Protection Statute Cited as 2001 NEB 25-3101 – 25-3107 LB55 LB 55 LEGISLATIVE BILL 55 Approved by the Governor April 4, 2001 Introduced by Landis, 46 AN ACT relating to financial arrangements; to amend section 9-109, Uniform Commercial Code; to adopt the Structured Settlements Transfers Protection Act; to harmonize provisions; to provide an operative date; to repeal the original section; and to declare an emergency. Be it enacted by the people of the State of Nebraska, Section 1. Sections 1 to 7 of this act shall be known and may be cited as the Structured Settlements […]

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Alaska Structured Settlement Protection Statute

The Alaska Structured Settlement Protection Statute House Bill No. 64 AK Statute §§ 09.68.200–09.68.230 “An Act relating to court approval of the purchase of structured settlements.” TEXT: BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: Section 1. AS 09.68 is amended by adding new sections to read: Sec. 09.68.200. Conditions to transfers of structured settlement payment rights and structured settlement agreements. (a) A transfer of structured settlement payment rights is not effective and a structured settlement obligor or annuity issuer is not required to make a payment directly or indirectly to a transferee of structured settlement payment […]

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The New York Structured Settlement Protection Act

The New York Structured Settlement Protection Statute McKinney’s General Obligations Law § 5-1701 § 5-1701. Definitions For purposes of this title: (a) “annuity issuer” means an insurer that has issued an insurance contract used to fund periodic payments under a structured settlement; (b) “dependents” include a payee’s spouse and minor children and all other persons for whom the payee is legally obligated to provide support, including alimony or maintenance; (c) “discounted present value” means the present value of future payments, as determined by discounting such payments to the present using the most recently published applicable federal rate for determining the […]

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The Maine Structured Settlement Protection Act

The Maine Structured Settlement Protection Statute MAINE STATUTES TITLE 24-A§2241. DefinitionsAs used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [1999, c. 268, §2 (new).] 1. Annuity issuer. “Annuity issuer” means an insurer that has issued an insurance contract used to fund periodic payments under a structured settlement. [1999, c. 268, §2 (new).] 2. Applicable law. “Applicable law” means: A. Federal law; [1999, c. 268, §2 (new).] B. The laws of this State, including principles of equity applied in the courts of this State; and [1999, c. 268, §2 (new).] C. The laws […]

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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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The New Jersey Structured Settlement Protection Statute

The New Jersey Structured Settlement Protection Statute NEW JERSEY PERMANENT STATUTES TITLE 2A. ADMINISTRATION OF CIVIL AND CRIMINAL JUSTICE Current through P.L.2002, c.33 § 2A:16-63. Short title. This act shall be known and may be cited as the “Structured settlement Protection Act.” L.2001, c.139, s.1, eff. Aug. 1, 2001. § 2A:16-64. Definitions relative to structured settlements. For the purposes of this act: “Annuity issuer” means an insurer that has issued a contract to fund periodic payments under a structured settlement. “Dependents” includes a payee’s spouse and minor children and all other persons for whom the payee is legally obligated to […]

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Arizona Structured Settlement Protection Statute

The Arizona Structured Settlement Protection Statute Arizona Revised Statutes Annotated Title 12. Courts And Civil Proceedings Chapter 20 Article 1. General Provisions AZ Revised Statute Ann §§ 12-2901–12-2904 § 12-2901. Definitions In this chapter, unless the context otherwise requires: 1. “Annuity issuer” means an insurer that has issued a contract that is used to fund periodic payments under a structured settlement. 2. “Dependents” includes a payee’s spouse and minor children and all other family members and other persons for whom the payee is legally obligated to provide support, including alimony. 3. “Discounted present value” means the present value of future […]

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The Virginia Structured Settlement Protection Act

The Virginia Structured Settlement Protection Statute § 59.1-475. Definitions. For purposes of this chapter: “Annuity issuer” means an insurer that has issued a contract to fund periodic payments under a structured settlement. “Dependents” include a payee’s spouse and minor children and all other persons for whom the payee is legally obligated to provide support, including alimony. “Discounted present value” means the present value of future payments determined by discounting such 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. “Gross […]

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