A. The superior court has jurisdiction over any application for authorization to transfer structured settlement payment rights pursuant to section 12-2902.

Terms Used In Arizona Laws 12-2903

  • Dependent: A person dependent for support upon another.
  • Dependents: includes a payee's spouse and minor children and all other family members and other persons for whom the payee is legally obligated to provide support, including alimony. See Arizona Laws 12-2901
  • Interested parties: means , with respect to any structured settlement, the payee, any beneficiary irrevocably designated under the annuity contract to receive payments following the payee's death, the annuity issuer, the structured settlement obligor and any other party that has continuing rights or obligations under the structured settlement. See Arizona Laws 12-2901
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Payee: means an individual who receives tax-free damage payments under a structured settlement and who proposes to make a transfer of payment rights under the structured settlement. See Arizona Laws 12-2901
  • Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
  • Responsible administrative authority: means , with respect to a structured settlement, any government authority that is vested by law with exclusive jurisdiction over the settled claim that is resolved by the structured settlement. See Arizona Laws 12-2901
  • 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 an arrangement for periodic payment of damages for personal injuries or sickness that is established by settlement or judgment in resolution of a tort claim or for periodic payments in settlement of a workers' compensation claim. See Arizona Laws 12-2901
  • Transfer: means any sale, assignment, pledge, hypothecation or other form of alienation or encumbrance of structured settlement payment rights. See Arizona Laws 12-2901
  • Transfer agreement: means the agreement that provides for transfer of structured settlement payment rights from a payee to a transferee. See Arizona Laws 12-2901
  • Transferee: means a party acquiring or proposing to acquire structured settlement payment rights through a transfer. See Arizona Laws 12-2901

B. Not less than twenty days before the scheduled hearing on any application for authorization to transfer structured settlement payment rights, the transferee shall file with the court a notice of the proposed transfer and the application for its authorization and shall serve a copy of the notice on any other government authority that previously approved the structured settlement, on all interested parties. The notice shall include:

1. A copy of the transferee’s application.

2. A copy of the transfer agreement.

3. A copy of the disclosure statement required under section 12-2902.

4. A listing of each of the payee‘s dependents, together with each dependent‘s age.

5. A statement that any interested party is entitled to support, oppose or otherwise respond to the transferee’s application, either in person or by counsel, by submitting written comments to the court or other responsible administrative authority or by participating in the hearing.

6. The time and place of the hearing and the manner in which and the time by which written responses to the application must be filed in order to be considered by the court or responsible administrative authority. An interested party shall have at least fifteen days after service of the transferee’s notice in which to respond.

 

 

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