§2241. Definitions As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1999, c. 268, §2 (NEW).] 1. Annuity issuer. “Annuity issuer” means an insurer that has issued an insurance contract used to fund periodic payments under a structured settlement. [PL 1999, c. 268, §2 […]
§2242. Notice and registration requirements of transferees of structured settlements 1. Notice. A transferee of structured settlement payment rights that intends to do business in this State shall, prior to doing business, pay the appropriate fee at the rate established in section 601 and furnish notice to the superintendent to: A. Identify the state […]
§2243. Transfer of structured settlement payment rights 1. Application. This section applies to any transfer of structured settlement payment rights under a transfer agreement entered into on or after the effective date of this section. This section may not be construed to imply that any transfer under a transfer agreement reached prior to the effective […]
§2244. Jurisdiction; filing 1. Jurisdiction. The Superior Court has nonexclusive jurisdiction over any application for authorization under this chapter of a transfer of structured settlement payment rights. [PL 1999, c. 268, §2 (NEW).] 2. Filing. Not less than 30 days prior to the scheduled hearing on any application for authorization of a transfer of […]
§2245. Prohibitions 1. Prohibition against waiver. The provisions of this chapter may not be waived. [PL 1999, c. 268, §2 (NEW).] 2. Prohibition against penalty. A payee who proposes to make a transfer of structured settlement payment rights may not incur a penalty, forfeit an application fee or other payment or otherwise incur any […]
§2246. Construction Nothing contained in this chapter may be construed to authorize a transfer of structured settlement payment rights in contravention of applicable law or to give effect to a transfer of structured settlement payment rights that is invalid under applicable law. [PL 1999, c. 268, §2 (NEW).] SECTION HISTORY PL 1999, c. 268, […]
