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

 
(a)__Each interested party, except that if__a
favorable tax determination was in effect at the
time the payee and the transferee entered into the
transfer agreement, the approvals of the annuity
issuer and the structured settlement obligor are
not required if all other interested parties
approve the transfer and waive all rights to
require that the transferred payments be made to
the payee in accordance with the terms of the
structured settlement; and

 
(b)__Any court or government authority, other than
the court or responsible administrative authority
from which authorization of the transfer is sought
under this chapter, that previously approved the
structured settlement; and

 
(2)__Signed originals of all approvals required under
subparagraph (1) have been filed with the court or
responsible administrative authority from which
authorization of the transfer is sought under this
chapter and originals or copies have been furnished to
all interested parties; and

 
F.__The transferee has given written notice of the
transferee's name, address and taxpayer identification
number to the annuity issuer and the structured settlement
obligor and has filed a copy of that notice with the court
or responsible administrative authority.

 
§2243.__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.

 
2.__Filing.__Not less than 30 days prior to the scheduled
hearing on any application for authorization of a transfer of
structured settlement payment rights under this chapter, the
transferee shall file with the court or responsible
administrative authority and serve on any other government
authority that previously approved the structured settlement and
all interested parties a notice of the proposed transfer and the
application of its authorization, including in that notice:

 
A.__A copy of the transferee's application;

 
B.__A copy of the transfer agreement;


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