Sec. 9. (a) A payee who proposes to make a transfer of structured settlement payment rights does not:

(1) incur a penalty;

Ask a litigation question, get an answer ASAP!
Thousands of highly rated, verified litigation lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In Indiana Code 34-50-2-9

  • 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.
  • structured settlement: means periodic payments of damages established by a settlement or a court judgment in resolution of a tort claim for personal injury. See Indiana Code 34-50-2-2
  • transfer: means a:

    Indiana Code 34-50-2-3

  • transferee: means a party acquiring or proposing to acquire structured settlement payment rights through a transfer agreement. See Indiana Code 34-50-2-4
(2) forfeit an application fee or other payment; or

(3) otherwise incur a liability to the proposed transferee;

if the transfer is not approved by a court under section 7 of this chapter.

     (b) A provision of this chapter may not be waived.

     (c) This chapter does not:

(1) authorize a transfer of structured settlement payment rights in contravention of applicable law; or

(2) give effect to a transfer of structured settlement payment rights that is void under applicable law.

As added by P.L.219-2001, SEC.6.