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Revised Connecticut Structured Settlement Protection Act Goes Into Effect, Addressing Probate Matters

Revised Connecticut Structured Settlement Protection Act Goes Into Effect, Addressing Probate Matters

The Connecticut Structured Settlement Protection Act is one of 49 state statutes that provide that a transaction involving the sale or loan or the right to receive future structured settlement payments is ineffective unless the purchaser meets certain requirements such as providing a disclosure statement to the individual seller. Perhaps the most important requirement is that the purchaser (the “transferee”, in the words of the statute, which is usually a factoring company) must begin a court proceeding and bring the transaction before…

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