Louisiana Revised Statutes 9:2713.4 – A. At the time the transfer order is to be signed by the court, all transferees must provide evidence to the court in which a structured settlement transfer proceeding is filed that
Terms Used In Louisiana Revised Statutes 9:2713.4
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- 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.
- 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.
A. At the time the transfer order is to be signed by the court, all transferees must provide evidence to the court in which a structured settlement transfer proceeding is filed that the transferee is registered to do business in this state as a structured settlement purchase company.
B. A transfer order signed by a Louisiana court of competent jurisdiction in accordance with this Act shall constitute a qualified order under 26 U.S.C. § 5891. A transfer order signed by a Louisiana court of competent jurisdiction after July 1, 2020, where the transferee is not a registered structured settlement purchase company at the time the transfer order is signed shall not constitute a qualified order under 26 U.S.C. § 5891.
Acts 2019, No. 260, §1, eff. July 1, 2020.