§ 51-12-76. Separate Disclosure Statement Provided to Payee; Requirements
Not less than ten 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 point font, setting forth the following: The amounts and due dates of the structured settlement payments to be transferred; The […]
§ 51-12-77. Approval of Transfer by Court Order; Requirements
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 or assignee of structured settlement payment rights, unless the transfer has been approved in advance in a final court order based […]
§ 51-12-78. Redirecting Payments; Liability of Transferee; Dividing Payment; Compliance
Following a transfer of structured settlement payment rights, the structured settlement obligor and the annuity issuer may rely on the court order approving the transfer in redirecting periodic payments to an assignee or transferee in accordance with the order approving the transfer and shall, as to all parties except the transferee or an assignee designated […]
§ 51-12-79. Application for Transfer of Structured Settlement Payment Right Required Documentation; Hearing
An application under this article for approval of a transfer of structured settlement payment rights shall be made by the transferee. The application shall be brought in superior court in the county in which the payee is domiciled, except that if the payee is not domiciled in this state, the application may be brought in […]
§ 51-12-80. Waiver Prohibited; Governing Law; Death of Payee; Compliance by Transferee
The provisions of this article shall not be waived by any payee. Any transfer agreement entered into on or after July 1, 2021, by a payee who is domiciled in this state shall provide that disputes under such transfer agreement, including any claims that the payee has breached the agreement, shall be determined in and […]
§ 51-12-71. Short Title
This article shall be known and may be cited as the “Georgia Structured Settlement Protection Act.” History. Code 1981, § 51-12-71 , enacted by Ga. L. 2021, p. 663, § 1/HB 443.
§ 51-12-6. Damages for Injury to Peace, Happiness, or Feelings
In a tort action in which the entire injury is to the peace, happiness, or feelings of the plaintiff, no measure of damages can be prescribed except the enlightened consciences of impartial jurors. In such an action, punitive damages under Code Section 51-12-5 or Code Section 51-12-5.1 shall not be awarded. History. Orig. Code 1863, […]
§ 51-12-72. Definitions
As used in this article, the term: “Annuity issuer” means an insurer that has issued a contract to fund periodic payments under a structured settlement. “Assignee” means a person or entity acquiring or proposing to acquire structured settlement payments from a structured settlement purchase company or transferee after, or concurrently with, the transfer by the […]
§ 51-12-7. Recovery of Necessary Expenses
In all cases, necessary expenses consequent upon an injury are a legitimate item in the estimate of damages. History. Orig. Code 1863, § 3000; Code 1868, § 3013; Code 1873, § 3068; Code 1882, § 3068; Civil Code 1895, § 3908; Civil Code 1910, § 4505; Code 1933, § 105-2004. Law reviews. For article advocating […]
§ 51-12-73. Structured Settlement Purchase Companies; Requirements for Doing Business
A person or entity shall not act as a transferee, attempt to acquire structured settlement payment rights through a transfer from a payee who resides in this state, or file a structured settlement transfer proceeding in this state unless the person or entity has registered with the Secretary of State to do business in this […]