Ohio Structured Settlement Protection Act

Ohio Structured Settlement Protection Act § 2323.58 Definitions. As used in this section and sections 2323.581 [2323.58.1] to 2323.587 [2323.58.7] of the Revised Code: (A) “Annuity issuer” means an insurer that has issued an insurance contract that is used to fund periodic payments under a structured settlement. (B) “Applicable law” means any of the following, as applicable in interpreting the terms of a structured settlement agreement: (1) The laws of the United States; (2) The laws of this state, including principles of equity that are applied in the courts of this state; (3) The laws of any other jurisdiction if […]

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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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Arkansas Structured Settlement Protection Statute

The Arkansas Structured Settlement Protection Statute House Bill No. 2614 AN ACT concerning structured settlement protection; and for other purposes. Effective 8/13/05 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: SECTION 1. Arkansas Code Title 23, Chapter 81, is amended to add an additional subchapter to read as follows: 23-81-701. Title. This subchapter shall be known and may be cited as the “Structured Settlement Protection Act”. 23-81-702. Definitions. As used in this subchapter: (1) “Annuity issuer” means an insurer that has issued a contract to fund periodic payments under a structured settlement; (2) “Dependents” includes a […]

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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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The Montana Structured Settlement Protection Statute

The Montana Structured Settlement Protection Statute Montana Senate Bill 122 Synopsis: An act regulating the transfer of a beneficiary’s structured settlement payment rights; requiring disclosure and approval of a court or responsible administrative authority prior to transfer; outlining obligations after a transfer; placing a condition on additional transfers; providing for jurisdiction and notice; prohibiting waiver of provisions; providing conditions for contingent payments; assigning responsibility for compliance; and providing an applicability date. Text: BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA: Section 1. Short title. Sections 1 through 12 may be cited as the “Structured Settlement Protection Act”. […]

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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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Considerations for the Casualty Insurer in Dealing with Structured Settlements

Considerations for the Casualty Insurer in Dealing with Structured Settlements   Recent trends in property/casualty insurance reflects catastrophic insurance losses from earthquakes, hurricanes, and other natural and unnatural disasters reaching unparalleled levels.  Property/casualty insurers are anticipating even larger losses in the future.  It’s not only the frequency of these natural and unnatural disasters that is debilitating,  it is also the population growth.  For example, the population in the Atlantic and Gulf regions of Florida and in California have experienced a population growth three or four times the national average for the last three decades.   Faced with this increased exposure […]

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Lawmakers ask attorney general to probe structured settlement buyouts

 Structured Settlement Buyouts As a Structured Settlement Attorney that represents sellers of structured settlements as an Independent Professional Advisor, we found this article very interesting. By Terrence McCoy September 1 at 7:50 PM Two members of… Continue reading Lawmakers ask attorney general to probe structured settlement buyouts

Structured Settlement Purchase Industry

Here is another article that we found that give credence to the need for a Structured Settlement Attorney, to act as your Independent Professional Advisor when you are selling a structured settlement 10 Things We Learned About The Structured Settlement Purchase Industry By Ashlee Kieler August 28, 2015 Report after report finds that payday lenders, auto title loan firms and pension advance operations unfairly target vulnerable consumers with high fees and questionable terms, but a new investigative piece from The Washington Post shows that are some lesser-known, but very lucrative players offering quick cash to vulnerable consumers: structured settlement purchasing companies. […]

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Court appointed Guardians Ad Litem Are Not Independent Professional Advisors; 

From time to time we run across articles that we believe are well written, and not just for advertisement. When we do find such articles we like to share them with our readers. this is one of those articles we found, written by an attorney, and seems to be on the mark when it comes to talking about independent professional advice. Guardians Ad Litem Are Not Independent Professional Advisors The sale of a structured settlement to a factoring company will involve a court proceeding. I […] Continue reading Court appointed Guardians Ad Litem Are Not Independent Professional Advisors;