Montana Statutes
§ 33-20-1410 — Contingent Payment Conditions
Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 20 LIFE INSURANCE·Part 14 Structured Settlement Protection
33-20-1410 . Contingent payment conditions. A transfer of a structured settlement payment right may not extend to a payment that is contingent upon the life of a payee unless prior to the date on which the payee signs the transfer agreement the transferee has established and agreed to maintain procedures reasonably satisfactory to the annuity issuer and the structured settlement obligor for:
(1)periodically confirming the payee's survival; and
(2)giving the annuity issuer and the structured settlement obligor prompt written notice upon the payee's death.
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Legislative History
En. Sec. 10, Ch. 351, L. 2005.
Nearby Sections
15
§ 33-20-1002
Employee Life Insurance Defined§ 33-20-1003
Repealed§ 33-20-101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