Terms Used In Maryland Code, COURTS AND JUDICIAL PROCEEDINGS 5-1101.1

  • 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.
The General Assembly finds and declares that it is necessary to regulate transfers of structured settlement payment rights to:

(1) Ensure that the transfers are effectuated on fair and reasonable terms and are in the best interests of payees; and

(2) Protect payees against deceptive practices.