Nevada Revised Statutes 42.285 – ‘Structured settlement obligor’ defined
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‘Structured settlement obligor’ means, with respect to any structured settlement, the party that has the continuing obligation to make periodic payments to the payee under a structured settlement agreement or qualified assignment agreement.
Terms Used In Nevada Revised Statutes 42.285
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- 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.