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Tag: “structured settlement payment rights”

No Interest In Annuity, So Nothing To Assign

No Interest In Annuity, So Nothing To Assign

Under structured settlement protection acts, a transfer of an individual payee’s right to receive structured settlement payments becomes legally effective only when and if a court approves the transfer. Those forty-eight states with structured settlement protection acts recognize, in those statutes, that the property being transferred by such court approval is the right to receive payments under the structured settlement agreement – and not under the annuity that is the asset that typically funds the payments. That recognition items from…

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Revised Oregon SSPA Also Includes New Professional Advice, Cooling Off Provisions

Revised Oregon SSPA Also Includes New Professional Advice, Cooling Off Provisions

The Oregon Structured Settlement Protection Act (“Oregon SSPA”) is one of forty-eight state structured settlement protection acts (SSPAs) – every state has one, except for Wisconsin and New Hampshire. Dating back to 2005, the Oregon SSPA originally followed, for the most part, the model legislation that is in place (with some modifications) in most states. Last year, the Oregon legislature decided to revise the Oregon SSPA, and the revisions were signed into law and went into effect January 1, 2014….

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Oregon Structured Settlement Protection Act Now Includes Non-Exhaustive List Of Factors To Consider In Reviewing Factoring Deals

Oregon Structured Settlement Protection Act Now Includes Non-Exhaustive List Of Factors To Consider In Reviewing Factoring Deals

The Oregon Structured Settlement Protection Act (“Oregon SSPA”) has now been revised, effective this month, and includes additional requirements concerning the information factoring companies must include in petitions (as described here) and a description about evidence that court may want to consider at the hearing (as described here). In addition, the new Oregon SSPA includes a list of considerations that the court may want to take into account – or, as the revised Oregon SSPA states, “when determining whether the…

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