Nevada Revised Statutes 42.250 – ‘Payee’ defined
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‘Payee’ means a natural person who:
Terms Used In Nevada Revised Statutes 42.250
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
- 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.
1. Is receiving tax-free payments under a structured settlement which resolved a settled claim; and
2. Proposes to make a transfer of the structured settlement payment rights.