California Insurance Code 10137 – A transfer of structured settlement payment rights is void unless a …
Current as of: 2024 | Check for updates
|
Other versions
A transfer of structured settlement payment rights is void unless a court reviews and approves the transfer and finds the following conditions are met:
(a) The transfer of the structured settlement payment rights is fair and reasonable and in the best interest of the payee, taking into account the welfare and support of his or her dependents.
Terms Used In California Insurance Code 10137
- 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.
(b) The transfer complies with the requirements of this article, will not contravene other applicable law, and the court has reviewed and approved the transfer as provided in Section 10139.5.
(Amended by Stats. 2009, Ch. 593, Sec. 4. (SB 510) Effective January 1, 2010.)