Section 1-16-601 – Short Title.

1-16-601. Short title. This act shall be known and may be cited as the Wyoming Structured Settlement Protection Act.

Section 1-16-602 – Definitions.

1-16-602. Definitions. (a) As used in this act: (i) “Annuity issuer” means an insurer that has issued a contract to fund periodic payments under a structured settlement; (ii) “Dependents” include a payee’s spouse and minor children and all other persons for whom the payee is legally obligated to provide support, including alimony; (iii) “Discounted present […]

Section 1-16-603 – Required Disclosures to Payee.

1-16-603. Required disclosures to payee. (a) Not less than three (3) 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 (14) points, setting forth: (i) The amounts and due dates of the structured […]

Section 1-16-604 – Approval of Transfers of Structured Settlement Payment Rights.

1-16-604. Approval of transfers of structured settlement payment rights. (a) 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 approved […]

Section 1-16-605 – Effects of Transfer of Structured Settlement Payment Rights.

1-16-605. Effects of transfer of structured settlement payment rights. (a) Following a transfer of structured settlement payment rights under this act: (i) 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; (ii) The transferee shall […]

Section 1-16-606 – Procedure for Approval of Transfers.

1-16-606. Procedure for approval of transfers. (a) An application under this act for approval of a transfer of structured settlement payment rights shall be made by the transferee and may be brought in the Wyoming district court that approved the structured settlement payment rights, or the Wyoming district court in the county where the payee […]

Section 1-16-607 – General Provisions; Construction.

1-16-607. General provisions; construction. (a) The provisions of this act may not be waived by any payee. (b) Any transfer agreement entered into on or after July 1, 2006 by a payee who resides in this state shall provide that disputes under the transfer agreement, including any claim that the payee has breached the agreement, […]