§ 21-3B-1 Definitions
§ 21-3B-2 Transferee to provide disclosure statement–Information required
§ 21-3B-3 Transfer effective only upon order of court or administrative authority–Findingsrequired
§ 21-3B-4 Rights and obligations following transfer
§ 21-3B-5 Application for approval of transfer to be made by transferee–Venue–Notice ofproposed transfer
§ 21-3B-6 Payee may not waive provisions
§ 21-3B-7 Disputes decided under state law
§ 21-3B-8 Life-contingent payments not to be transferred–Exception
§ 21-3B-9 No payee liability for failure to comply with chapter
§ 21-3B-10 Effect of chapter on existing laws and transfer agreements
§ 21-3B-11 Transferee solely responsible for certain requirements
§ 21-3B-12 Applicability of chapter

Terms Used In South Dakota Codified Laws > Title 21 > Chapter 3B - Structured Settlements

  • 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.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Contract: A legal written agreement that becomes binding when signed.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Dependent: A person dependent for support upon another.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • 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.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Periodic payments: includes both recurring payments and scheduled future lump sum payments. See South Dakota Codified Laws 21-3B-1
  • Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
  • 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.
  • Statute: A law passed by a legislature.
  • Terms of the structured settlement: include , with respect to any structured settlement, the terms of the structured settlement agreement, the annuity contract, any qualified assignment agreement, and any order or other approval of any court or responsible administrative authority or other government authority that authorized or approved such structured settlement. See South Dakota Codified Laws 21-3B-1
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2