Appeals Court in Texas – In Line with Appellate Rulings in Other States – Upholds Anti-Assignment Provision to Preclude Secondary Market Transaction

Appeals Court in Texas – In Line with Appellate Rulings in Other States – Upholds Anti-Assignment Provision to Preclude Secondary Market Transaction

An anti-assignment provision in a structured settlement agreement is valid and enforceable and precludes a proposed transfer of structured settlement payment rights, in a case where the annuity issuer and structured settlement obligor have asserted their rights under the provision.

That was the holding in an opinion issued last week by a panel of the Texas Court of Appeals.

The holding is consistent with appellate court rulings in state structured settlement protection act proceedings a number of other states, including California, Florida, Georgia, Illinois, and Kentucky.

The opinion, captioned In re Hughes, No. 04-15-00482-CV, 2016 Tex. App. LEXIS 8572 (Tex. Ct. App. Aug. 10, 2016), is available here.

 

Comments are closed.