§ 13-23-101. Short Title
This article shall be known and may be cited as the “Structured Settlement Protection Act”. Source: L. 2004: Entire article added, p. 494, § 1, effective July 1.
§ 13-23-102. Definitions
As used in this article, unless the context otherwise requires: “Annuity issuer” means an insurer that has issued a contract to fund periodic payments under a structured settlement. “Dependent” means a payee’s spouse, minor child, or any person for whom the payee is legally obligated to provide support, including maintenance. “Discounted present value” means the […]
§ 13-23-103. Required Disclosures to Payee
Not fewer 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 fourteen points, setting forth: The amounts and due dates of the structured settlement payments to be transferred; The aggregate amount of […]
§ 13-23-104. Approval of Transfers of Structured Settlement Payment Rights
A direct or indirect transfer of a structured settlement payment right shall not be effective and a structured settlement obligor or annuity issuer shall not be required to make a payment directly or indirectly to a transferee of a structured settlement payment right unless the transfer has been approved in advance in a final court […]
§ 13-23-105. Effect of Transfer of Structured Settlement Payment Right
Following a transfer of a structured settlement payment right pursuant to this article: The structured settlement obligor and the annuity issuer shall, as to all parties except the transferee, be discharged and released from all liability for the transferred payments; The transferee shall be liable to the structured settlement obligor and the annuity issuer: If […]
§ 13-23-106. Procedure for Approval of Transfer
An application under this article for approval of a transfer of a structured settlement payment right shall be made by the transferee and may be brought: In the district court for the county in which the payee resides; In the district court for the county in which the structured settlement obligor or the annuity issuer […]
§ 13-23-107. General Provisions – Construction
The provisions of this article may not be waived by any payee. Any transfer agreement entered into on or after July 1, 2004, by a payee who resides in Colorado shall provide that disputes under such transfer agreement, including any claim that the payee has breached the agreement, shall be determined in and under the […]
§ 13-23-108. Exceptions – Judgment for Periodic Payment Against a Health-Care Professional or Institution – Assignment of Workers’ Compensation Benefits
Nothing in this article shall apply to a judgment entered pursuant to the provisions of part 2 of article 64 of this title or to compensation or benefits due under articles 40 to 47 of title 8, C.R.S. Source: L. 2004: Entire article added, p. 500, § 1, effective July 1.