Terms Used In Maine Revised Statutes Title 24-A Sec. 2246

  • Applicable law: means :
A. See Maine Revised Statutes Title 24-A Sec. 2241
  • 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 established by settlement or judgment in resolution of a tort claim or for periodic payments in settlement of a workers' compensation claim. See Maine Revised Statutes Title 24-A Sec. 2241
  • Transfer: means any sale, assignment, pledge, hypothecation or other form of alienation or encumbrance made by a payee for consideration. See Maine Revised Statutes Title 24-A Sec. 2241
    • Nothing contained in this chapter may be construed to authorize a transfer of structured settlement payment rights in contravention of applicable law or to give effect to a transfer of structured settlement payment rights that is invalid under applicable law. [PL 1999, c. 268, §2 (NEW).]
    SECTION HISTORY

    PL 1999, c. 268, §2 (NEW).
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