§ 13-23-106 — Procedure for approval of transfer

Colorado § 13-23-106

• Jurisdiction: Colorado
• Title 13: Courts
• Art.: Structured Settlement Protection Act

Text

(1) An application under this
article for approval of a transfer of a structured settlement payment right shall be
made by the transferee and may be brought:

(a) In the district court for the county in which the payee resides;

(b) In the district court for the county in which the structured settlement
obligor or the annuity issuer maintains its principal place of business; or

(c) In any court or before any responsible administrative authority that
approved the structured settlement agreement.

(2) Not fewer than twenty days prior to the scheduled hearing on an
application for approval of a transfer of structured settlement payment rights
under section 13-23-104, the transferee shall file with the court or responsible
administrative authority and serve on all interested parties a notice of the proposed
transfer and the application for its authorization. The transferee shall file and serve:

(a) A copy of the transferee's application;

(b) A copy of the transfer agreement;

(c) A copy of the disclosure statement required pursuant to section 13-23-103;

(d) A listing of each of the payee's dependents, together with each
dependent's age;

(e) A notification that any interested party is entitled to support, oppose, or
otherwise respond to the transferee's application, either in person or by counsel, by
submitting written comments to the court or responsible administrative authority or
by participating in the hearing; and

(f) A notification of the time and place of the hearing and notification of the
manner in which and the time by which written responses to the application must be
filed, which shall be not fewer than fifteen days after service of the transferee's
notice, in order to be considered by the court or responsible administrative
authority.

Legislative History

Source: L. 2004: Entire article added, p. 498, � 1, effective July 1.