Sec. 1. As used in this chapter, “interested party” refers to:

(1) the payee;

Terms Used In Indiana Code 34-50-2-1

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Dependent: A person dependent for support upon another.
  • 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 periodic payments of damages established by a settlement or a court judgment in resolution of a tort claim for personal injury. See Indiana Code 34-50-2-2
(2) the annuity issuer;

(3) the structured settlement agreement obligor;

(4) the payee’s counsel who assisted in the establishment of the structured settlement;

(5) a dependent of the payee; or

(6) a family member or relative who is acting as a caregiver for the payee.

As added by P.L.219-2001, SEC.6.