Delaware Code Title 10 Sec. 6604 – No waiver; no penalties
(a) The provisions of this chapter shall not be waived.
Terms Used In Delaware Code Title 10 Sec. 6604
- 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: shall mean any sale, assignment, pledge, hypothecation or other form of alienation or encumbrance made by a payee for consideration;
(19) "Transfer agreement" shall mean the agreement providing for transfer of structured settlement payment rights from a payee to a transferee; and
(20) "Transferee" or "payor" shall mean the person, firm or entity purchasing or receiving the assignment, pledge, hypothecation or other form of alienation or encumbrance made by a payee for consideration under a structured settlement agreement. See Delaware Code Title 10 Sec. 6602
(b) No payee who proposes to make a transfer of structured settlement payment rights shall inure any penalty, forfeit any application fee or other payment, or otherwise incur any liability to the proposed transferee based on any failure of such transfer to satisfy the conditions of § 6601 of this title.