New Hampshire Revised Statutes 408-G:3 – Approval of Transfers of Structured Settlement Payment Rights
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No direct or indirect transfer of structured settlement payment rights shall be effective and no structured settlement obligor or annuity issuer shall be required to make any payment directly or indirectly to any transferee or assignee of structured settlement payment rights unless the transfer has been approved in advance in a final court order based on express findings by such court that:
I. The transfer is in the best interest of the payee, taking into account the welfare and support of the payee’s dependents; and
II. The payee has been advised in writing by the transferee to seek independent professional advice regarding the transfer and has either received such advice or knowingly waived in writing the opportunity to seek and receive such advice; and
III. The transfer does not contravene any applicable statute or the order of any court or other government authority.
I. The transfer is in the best interest of the payee, taking into account the welfare and support of the payee’s dependents; and
Terms Used In New Hampshire Revised Statutes 408-G:3
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- 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.
- Statute: A law passed by a legislature.
II. The payee has been advised in writing by the transferee to seek independent professional advice regarding the transfer and has either received such advice or knowingly waived in writing the opportunity to seek and receive such advice; and
III. The transfer does not contravene any applicable statute or the order of any court or other government authority.