Nevada Revised Statutes 42.290 – ‘Structured settlement payment rights’ defined
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‘Structured settlement payment rights’ means rights to receive periodic payments under a structured settlement, whether from the structured settlement obligor or the annuity issuer, where the payee is domiciled in this State or the structured settlement agreement was approved by a court in this State.
Terms Used In Nevada Revised Statutes 42.290
- 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.
- 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.