LD 1930
pg. 5
Page 4 of 7 An Act to Protect Beneficiaries of Structured Settlements Page 6 of 7
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LR 2386
Item 1

 
(3)__The discounted present value of those payments
together with the discount rate used in determining
that discounted present value;

 
(4)__The gross amount payable to the payee in exchange
for the payments;

 
(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;

 
(6)__The net amount payable to the payee after
deduction of all commissions, fees, costs, expenses and
charges described in subparagraph (5);

 
(7)__The quotient, expressed as a percentage, obtained
by dividing the net payment amount by the discounted
present value of the payments; and

 
(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;

 
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;

 
D.__The payee has received independent professional advice
regarding the legal, tax and financial implications of the
transfer;

 
E.__If the transfer would contravene the terms of the
structured settlement:

 
(1)__The transfer has been expressly approved in
writing by:


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