Montana Code 33-20-1406. Additional transfers
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33-20-1406. Additional transfers. After the transfer of a structured settlement payment right pursuant to this part, any further transfer by the payee is subject to all of the requirements of this part.
Terms Used In Montana Code 33-20-1406
- Payee: means an individual who is receiving tax-free payments under a structured settlement and proposes to make a transfer of the payment rights. See Montana Code 33-20-1402
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Transfer: means a sale, assignment, pledge, hypothecation, or other alienation or encumbrance of a structured settlement payment right made by a payee for consideration. See Montana Code 33-20-1402