Montana § 33-20-1411 Responsibility For Compliance -- Liability

Montana Statutes

§ 33-20-1411 — Responsibility For Compliance -- Liability

Montana § 33-20-1411

Title 33INSURANCE AND INSURANCE COMPANIES

Ch. 20LIFE INSURANCE

Part 14Structured Settlement Protection

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Bluebook

Mont. Code Ann. § 33-20-1411 (2026).

Text

33-20-1411 . Responsibility for compliance -- liability.

(1)Compliance with the requirements in 33-20-1403 and fulfillment of the conditions in 33-20-1404 are the sole responsibility of the transferee in any transfer of a structured settlement payment right. Neither the structured settlement obligor nor the annuity issuer bears responsibility for or liability arising from noncompliance with 33-20-1403 or failure to fulfill the conditions of 33-20-1404 .

(2)A payee who proposes to make a transfer of a structured settlement payment right may not incur a penalty, forfeit an application fee or other payment, or otherwise incur any liability to the proposed transferee or any assignee based on a failure of a transfer agreement to satisfy the conditions of this part.

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33-20-1411 . Responsibility for compliance -- liability. (1) Compliance with the requirements in 33-20-1403 and fulfillment of the conditions in 33-20-1404 are the sole responsibility of the transferee in any transfer of a structured settlement payment right. Neither the structured settlement obligor nor the annuity issuer bears responsibility for or liability arising from noncompliance with 33-20-1403 or failure to fulfill the conditions of 33-20-1404 .
(2) A payee who proposes to make a transfer of a structured settlement payment right may not incur a penalty, forfeit an application fee or other payment, or otherwise incur any liability to the proposed transferee or any assignee based on a failure of a transfer agreement to satisfy the conditions of this part.