Montana Statutes
§ 33-20-1405 — Obligations After Transfer
Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 20 LIFE INSURANCE·Part 14 Structured Settlement Protection
33-20-1405 . Obligations after transfer. After the transfer of a structured settlement payment right pursuant to this part:
(1)the structured settlement obligor and the annuity issuer are discharged and released from liability for the transferred payments to all parties except to the transferee;
(2)the transferee is liable to the structured settlement obligor and the annuity issuer:
(a)if the transfer contravenes the terms of the structured settlement for any tax incurred by the structured settlement obligor or annuity issuer as a consequence of the transfer; and
(b)for any other liability or cost, including reasonable costs and attorney fees, arising:
(i)from compliance by the structured settlement obligor and annuity issuer with the order of the court or responsible administrative a
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Legislative History
En. Sec. 5, Ch. 351, L. 2005.
Nearby Sections
15
§ 33-20-1002
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Repealed§ 33-20-101
Scope§ 33-20-102
Industrial Life Insurance Defined§ 33-20-103
Standard Provisions Required -- Exceptions§ 33-20-104
Grace Period§ 33-20-105
Incontestability§ 33-20-106
Entire Contract§ 33-20-107
Misstatement Of Age§ 33-20-108
Dividends§ 33-20-109
Renumbered 33-20-131§ 33-20-110
Table Of Values§ 33-20-1101
Employee Groups§ 33-20-1102
Labor Union Groups