§ 11-57-1. Short Title

This chapter shall be known and may be cited as the “Structured Settlement Protection Act.”

§ 11-57-11. Application for transfer; notification; hearing

An application under this chapter for approval of a transfer of structured settlement payment rights shall be made by the transferee and may be brought in the county in which the payee resides, in the county in which the structured settlement obligor or the annuity issuer maintains its principal place of business, or in any […]

§ 11-57-13. Transferee and payee responsibilities

The provisions of this chapter may not be waived by any payee. Any transfer agreement entered into on or after July 1, 2002, by a payee who resides in this state shall provide that disputes under such transfer agreement, including any claim that the payee has breached the agreement, shall be determined in and under […]

§ 11-57-15. Applicability

This chapter shall apply to any transfer of structured settlement payment rights under a transfer agreement entered into on or after August 1, 2002; provided, however, that nothing contained herein shall imply that any transfer under a transfer agreement reached before such date is either effective or ineffective.

§ 11-57-3. Definitions

The following words and phrases shall have the meanings ascribed herein, unless the context clearly indicates otherwise: “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 […]

§ 11-57-5. Disclosure statement

Not less than three (3) days before the date on which a payee signs a transfer agreement, the transferee shall provide to the payee a separate disclosure statement, in bold type no smaller than fourteen (14) points, setting forth: The amounts and due dates of the structured settlement payments to be transferred; The aggregate amount […]

§ 11-57-7. Transfers of structured settlement payment rights

No direct or indirect transfer of structured settlement payment rights shall be effective and no structured settlement obligor or annuity issuer shall be required to make any payment directly or indirectly to any transferee of structured settlement payment rights unless the transfer has been approved in advance in a final court order or order of […]

§ 11-57-9. Consequences of transfer

Following a transfer of structured settlement payment rights under this chapter: The structured settlement obligor and the annuity issuer shall, as to all parties except the transferee, be discharged and released from any and all liability for the transferred payments; The transferee shall be liable to the structured settlement obligor and the annuity issuer: If […]