Nevada § 42.375 Applicant for approval of transfer of structured settlement payment rights required to provide evidence of registration; transfer order signed by court constitutes qualified order under federal law if transferee is registered

Nevada Statutes

§ 42.375 — Applicant for approval of transfer of structured settlement payment rights required to provide evidence of registration; transfer order signed by court constitutes qualified order under federal law if transferee is registered

Nevada·Title 3 REMEDIES; SPECIAL ACTIONS AND PROCEEDINGS·Ch. 42 Damages· STRUCTURED SETTLEMENT PROTECTION ACT

1.At the time an application is made under NRS 42.200 to 42.400 , inclusive, for the approval of a transfer of structured settlement payment rights, the application of the transferee must include evidence that the transferee is registered to do business in this State as a structured settlement purchase company.

2.Except as otherwise provided in this subsection, a transfer order signed by a district court of competent jurisdiction pursuant to NRS 42.200 to 42.400 , inclusive, constitutes a qualified order under 26 U.S.C. § 5891. If a transferee to which the transfer order applies is not registered as a structured settlement purchase company pursuant to NRS 42.200 to 42.400 , inclusive, at the time the transfer order is signed, the transfer order does not constitute a qualified order under

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1. At the time an application is made under NRS 42.200 to 42.400 , inclusive, for the approval of a transfer of structured settlement payment rights, the application of the transferee must include evidence that the transferee is registered to do business in this State as a structured settlement purchase company.
2. Except as otherwise provided in this subsection, a transfer order signed by a district court of competent jurisdiction pursuant to NRS 42.200 to 42.400 , inclusive, constitutes a qualified order under 26 U.S.C. § 5891. If a transferee to which the transfer order applies is not registered as a structured settlement purchase company pursuant to NRS 42.200 to 42.400 , inclusive, at the time the transfer order is signed, the transfer order does not constitute a qualified order under 26 U.S.C. § 5891.

Nevada § 42.375 (Applicant for approval of transfer of structured settlement payment rights required to provide evidence of registration; transfer order signed by court constitutes qualified order under federal law if transferee is registered) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.