Arkansas Statutes
§ 23-81-704 — Approval of transfers of structured settlement payment rights
Arkansas·Title 23
No direct or indirect transfer of structured settlement payment rights shall be effective and no structured settlement obligor or annuity issuer shall be required to make any payment directly or indirectly to any transferee of structured settlement payment rights unless the transfer has been approved in advance in a final court order or order of a responsible administrative authority based on express findings by the court or responsible administrative authority that:
(1)The transfer is in the best interest of the payee, taking into account the welfare and support of the payee's dependents;
(2)The payee has been advised in writing by the transferee to seek independent professional advice regarding the transfer and has either received the advice or knowingly waived the advice in writing; a
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Arkansas § 23-81-704 (Approval of transfers of structured settlement payment rights) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Metropolitan Life Insurance Co. v. B.J.L.Y., LLC
2016 Ark. App. 201 (Court of Appeals of Arkansas, 2016)
Legislative History
Acts 2005, No. 2215, § 1.
Nearby Sections
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