| | | (3)__The discounted present value of those payments | | together with the discount rate used in determining | | that discounted present value; |
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| | | (4)__The gross amount payable to the payee in exchange | | for the payments; |
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| | | (5)__An itemized listing of all brokers' commissions, | | service charges, application fees, processing fees, | | closing costs, filing fees, administrative fees, legal | | fees, notary fees and other commissions, fees, costs, | | expenses and charges payable by the payee or deductible | | from the gross amount otherwise payable to the payee; |
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| | | (6)__The net amount payable to the payee after | | deduction of all commissions, fees, costs, expenses and | | charges described in subparagraph (5); |
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| | | (7)__The quotient, expressed as a percentage, obtained | | by dividing the net payment amount by the discounted | | present value of the payments; and |
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| | | (8)__The amount of any penalty and the aggregate amount | | of any liquidated damages, inclusive of penalties, | | payable by the payee in the event of any breach of the | | transfer agreement by the payee; |
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| | | C.__The payee has established that the transfer is necessary | | to enable the payee, the payee's dependents or both to avoid | | imminent financial hardship, and the transfer is not | | expected to subject the payee, the payee's dependents or | | both to undue financial hardship in the future, except that | | if a federal hardship standard was in effect at the time the | | payee and the transferee entered into the transfer | | agreement, in lieu of the foregoing finding the court or | | responsible administrative authority must make an express | | finding that the transfer qualifies under that federal | | hardship standard; |
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| | | D.__The payee has received independent professional advice | | regarding the legal, tax and financial implications of the | | transfer; |
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| | | E.__If the transfer would contravene the terms of the | | structured settlement: |
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| | | (1)__The transfer has been expressly approved in | | writing by: |
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