§ 34-50-2-7 — Final orders; findings

Indiana § 34-50-2-7

• Jurisdiction: Indiana
• Title 34: CIVIL LAW AND PROCEDURE
• Art. 50: SETTLEMENT OF CLAIMS
• Ch. 2: Annuity Structured Settlements

Text

An Indiana court of competent jurisdiction may
approve a transfer of structured settlement payment rights only in a
final order that is based on the express findings of the court. The
express findings must include all of the following:
(1) The consideration that the payee will receive for the transfer
reasonably reflects the present fair market value of the future
periodic payments under the structured settlement agreement.
(2) The transfer is in the best interest of the payee.
(3) The transfer will not materially impair the payee's ability to
discharge the payee's obligations to the payee's dependents.
(4) If the transferee is the applicant, the transferee has provided
to the payee a disclosure statement in accordance with section 6
of this chapter.

Legislative History

As added by P.L.219-2001, SEC.6.