Section 682.1 – Short title.

682.1 Short title. This chapter shall be known and may be cited as the “Structured Settlement Protection Act”. 2001 Acts, ch 85, §1, 8

Section 682.2 – Definitions.

682.2 Definitions. As used in this chapter, unless the context otherwise requires: 1. “Annuity issuer” means an issuer that has issued an insurance contract used to fund periodic payments under a structured settlement. 2. “Dependents” means a payee’s spouse and minor children and all other family members and other persons for whom the payee is […]

Section 682.3 – Required disclosures to payee.

682.3 Required disclosures to payee. 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 fourteen points, setting forth all of the following: 1. The amounts and due dates of the […]

Section 682.4 – Approval of transfers of structured settlement payment rights.

682.4 Approval of transfers of structured settlement payment rights. 1. A transfer of structured settlement payment rights shall not be effective and a structured settlement obligor or annuity issuer shall not be required to make any payment directly or indirectly to a transferee of structured settlement payment rights unless the transfer has been approved in […]

Section 682.5 – Effects of transfer of structured settlement payment rights.

682.5 Effects of transfer of structured settlement payment rights. 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 to the structured settlement obligor and the annuity issuer for […]

Section 682.6 – Procedure for approval of transfers.

682.6 Procedure for approval of transfers. 1. An application under this chapter 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 maintains its […]

Section 682.7 – General provisions — construction — penalties.

682.7 General provisions — construction — penalties. 1. The provisions of this chapter shall not be waived by a payee. 2. A transfer agreement entered into on or after the thirtieth day after July 1, 2001, by a payee who resides in this state shall provide that disputes under the transfer agreement, including any claim […]