§ 6601. Conditions to transfers of structured settlement payment rights. 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 authorized […]
§ 6602. Definitions. The following words, terms and phrases, when used in this chapter, shall have the meanings ascribed to them, except where the context clearly indicates a different meaning: (1) “Annuity issuer” shall mean an insurer that has issued an insurance contract used to fund periodic payments under a structured settlement; (2) “Applicable law” […]
§ 6603. Jurisdiction; procedure for approval of transfers. (a) The Superior Court shall have nonexclusive jurisdiction over any application for authorization, under § 6601 of this title, of a transfer of structured settlement payment rights, except that if the structured settlement payment rights are held by a trustee, the Court of Chancery shall have exclusive […]
§ 6604. No waiver; no penalties. (a) The provisions of this chapter shall not be waived. (b) No payee who proposes to make a transfer of structured settlement payment rights shall inure any penalty, forfeit any application fee or other payment, or otherwise incur any liability to the proposed transferee based on any failure of […]
