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 […]
12-2902. Payment rights; transfer conditions A. Direct or indirect transfer of structured settlement payment rights shall not be effective and a structured settlement obligor or annuity issuer shall not be required to make any payment directly or indirectly to any transferee of structured settlement payment rights unless the transfer has been authorized in advance in […]
12-2903. Jurisdiction: transfer approval A. The superior court has jurisdiction over any application for authorization to transfer structured settlement payment rights pursuant to section 12-2902. B. Not less than twenty days before the scheduled hearing on any application for authorization to transfer structured settlement payment rights, the transferee shall file with the court a notice […]
12-2904. Waiver; penalties A. The provisions of this chapter shall not be waived. B. A payee who proposes to make a transfer of structured settlement payment rights shall not inure any penalty, forfeit any application fee or other payment or otherwise incur any liability to the proposed transferee based on any failure of the transfer […]
