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 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 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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