North Dakota § 32-03.4-04 Effects of transfer of structured settlement payment rights

North Dakota Statutes

§ 32-03.4-04 — Effects of transfer of structured settlement payment rights

North Dakota § 32-03.4-04

Title 32Judicial Remedies

Ch. 32-03.4Structured Settlement Transfers

This text of North Dakota § 32-03.4-04 (Effects of transfer of structured settlement payment rights) 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 § 32-03.4-04 (2026).

Text

Following a transfer of structured settlement payment rights under this chapter:

1.The structured settlement obligor and the annuity issuer are discharged and released from all liability for the transferred payments as to all parties except 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 taxes incurred by those parties as a consequence of the transfer; and

b.For any other liabilities or costs, including reasonable costs and attorney's fees, arising from compliance by those parties with the order of the court or arising as a consequence of the transferee's failure to comply with this chapter;

3.Neither the annuity issuer nor the structured settlement obl

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Following a transfer of structured settlement payment rights under this chapter:
1. The structured settlement obligor and the annuity issuer are discharged and released
from all liability for the transferred payments as to all parties except 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 taxes
incurred by those parties as a consequence of the transfer; and
b. For any other liabilities or costs, including reasonable costs and attorney's fees,
arising from compliance by those parties with the order of the court or arising as a
consequence of the transferee's failure to comply with this chapter;
3. Neither the annuity issuer nor the structured settlement obligor may be required to
divide any periodic payment between the payee and any transferee or assignee or
between two or more transferees or assignees; and
4. Any further transfer of structured settlement payment rights by the payee may be
made only after compliance with all of the requirements of this chapter.