North Dakota § 32-03.4-02 Required disclosures to payee

North Dakota Statutes

§ 32-03.4-02 — Required disclosures to payee

North Dakota § 32-03.4-02

Title 32Judicial Remedies

Ch. 32-03.4Structured Settlement Transfers

This text of North Dakota § 32-03.4-02 (Required disclosures to payee) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 32-03.4-02 (2026).

Text

At least three days before the date on which a payee signs a transfer agreement, the transferee shall provide to the payee a separate disclosure statement, in bold and in at least fourteen-point type, setting forth:

1.The amounts and due dates of the structured settlement payments to be transferred;

2.The aggregate amount of the payments;

3.The discounted present value of the payments to be transferred, which must be identified as the "calculation of current value of the transferred structured settlement payments under federal standards for 'valuing annuities'", and the amount of the applicable federal rate used in calculating the discounted present value;

4.The gross advance amount;

5.An itemized list of all applicable transfer expenses, other than attorney's fees and related disburs

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At least three days before the date on which a payee signs a transfer agreement, the
transferee shall provide to the payee a separate disclosure statement, in bold and in at least
fourteen-point type, setting forth:
1. The amounts and due dates of the structured settlement payments to be transferred;
2. The aggregate amount of the payments;
3. The discounted present value of the payments to be transferred, which must be
identified as the "calculation of current value of the transferred structured settlement
payments under federal standards for 'valuing annuities'", and the amount of the
applicable federal rate used in calculating the discounted present value;
4. The gross advance amount;
5. An itemized list of all applicable transfer expenses, other than attorney's fees and
related disbursements, payable in connection with the transferee's application for
approval of the transfer and the transferee's best estimate of the amount of any such
fees and disbursements;
6. The net advance amount;
7. The amount of any penalties or liquidated damages payable by the payee in the event
of any breach of the transfer agreement by the payee; and
8. A statement that the payee has the right to cancel the transfer agreement, without
penalty or further obligation, no later than the third business day after the date the
agreement is signed by the payee.