(a) The provisions of this part may not be waived.

Terms Used In Tennessee Code 47-18-2605

  • Payee: means an individual who is receiving tax-free damage payments under a structured settlement and proposes to make a transfer of payment rights thereunder. See Tennessee Code 47-18-2602
  • 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.
  • Transfer: means any sale, assignment, pledge, hypothecation, commutation, advance or other form of alienation or encumbrance made by a payee for consideration. See Tennessee Code 47-18-2602
(b) No payee who proposes to make a transfer of structured settlement payment rights shall incur any penalty, forfeit any application fee or other payment, or otherwise incur any liability to the proposed transferee based on any failure of such transfer to satisfy the conditions of § 47-18-2603.
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