§ 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 […]
§ 51-12-9. How Remoteness Ascertained
Damages which are the legal and natural result of the act done, though contingent to some extent, are not too remote to be recovered. However, damages traceable to the act, but which are not its legal and natural consequence, are too remote and contingent to be recovered. History. Orig. Code 1863, § 3005; Code 1868, […]
§ 51-12-75. Transfer Orders as Qualified Orders Under Federal Statutes
A transfer order signed by a Georgia court of competent jurisdiction in accordance with this article shall constitute a qualified order under 26 U.S.C. Section 5891. A transfer order signed by a Georgia court of competent jurisdiction after July 1, 2021, where the transferee is not a registered structured settlement purchase company at the time […]
§ 51-12-10. Exception to Rule Against Recovery of Remote Damages
When a tort is committed, a contract is broken, or a duty is omitted with knowledge and for the purpose of depriving the plaintiff of certain contemplated benefits, the remote damages occasioned thereby become a proper subject for the consideration of the jury. History. Orig. Code 1863, § 3006; Code 1868, § 3019; Code 1873, […]
§ 51-12-11. Mitigation of Damages Required; Exception
When a person is injured by the negligence of another, he must mitigate his damages as far as is practicable by the use of ordinary care and diligence. However, this duty to mitigate does not apply in cases of positive and continuous torts. History. Civil Code 1895, § 3802; Civil Code 1910, § 4398; Code […]
§ 51-12-12. Court Interference With Jury Verdict as to Damages
The question of damages is ordinarily one for the jury; and the court should not interfere with the jury’s verdict unless the damages awarded by the jury are clearly so inadequate or so excessive as to be inconsistent with the preponderance of the evidence in the case. If the jury’s award of damages is clearly […]