US Lawyer Database

Section 6-11-52 – Disclosure Statement.

Section 6-11-52 Disclosure statement. Not less than three days prior to 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 14 points, setting forth all of the following: (1) The amounts and due dates of the structured […]

Section 6-11-53 – Advanced Approval by Court Required; Hearing.

Section 6-11-53 Advanced approval by court required; hearing. 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 […]

Section 6-11-54 – Effects of Transfer of Rights.

Section 6-11-54 Effects of transfer of rights. (a) Following a transfer of structured settlement payment rights under this article: (1) 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. (2) The transferee shall be liable […]

Section 6-11-55 – Application for Approval of Transfer; Notice.

Section 6-11-55 Application for approval of transfer; notice. (a) An application under this article 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 […]

Section 6-11-23 – No Presumption of Correctness; Court to Conduct Hearings; Admissible Relevant Evidence; Trial Court to Independently Reassess Award of Punitive Damages.

Section 6-11-23 No presumption of correctness; court to conduct hearings; admissible relevant evidence; trial court to independently reassess award of punitive damages. (a) No presumption of correctness shall apply as to the amount of punitive damages awarded by the trier of the fact. (b) In all cases wherein a verdict for punitive damages is awarded, […]

Section 6-11-24 – No Presumption of Correctness to Apply to Damages on Appeal.

Section 6-11-24 No presumption of correctness to apply to damages on appeal. (a) On appeal, no presumption of correctness shall apply to the amount of punitive damages awarded. (b) The appellate court shall independently reassess the nature, extent and economic impact of such an award and reduce or increase the award if appropriate in light […]