South Dakota § 21-3B-3 Transfer effective only upon order of court or administrative authority--Findings required.

South Dakota Statutes

§ 21-3B-3 — Transfer effective only upon order of court or administrative authority--Findings required.

South Dakota § 21-3B-3

Title 21JUDICIAL REMEDIES

Ch. 21-3BSTRUCTURED SETTLEMENTS

This text of South Dakota § 21-3B-3 (Transfer effective only upon order of court or administrative authority--Findings required.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 21-3B-3 (2026).

Text

No direct or indirect transfer of structured settlement payment rights is effective and no structured settlement obligor or annuity issuer is required to make any payment directly or indirectly to any transferee of structured settlement payment rights unless the transfer has been approved in advance in a final court order or order of a responsible administrative authority based on the following express findings by such court or responsible administrative authority:

(1)The transfer is in the best interest of the payee, taking into account the welfare and support of the payee's dependents;

(2)The payee has been advised in writing by the transferee to seek independent professional advice regarding the transfer and has either received such advice or knowingly waived such advice in writ

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No direct or indirect transfer of structured settlement payment rights is effective and no structured settlement obligor or annuity issuer is required to make any payment directly or indirectly to any transferee of structured settlement payment rights unless the transfer has been approved in advance in a final court order or order of a responsible administrative authority based on the following express findings by such court or responsible administrative authority: (1) The transfer is in the best interest of the payee, taking into account the welfare and support of the payee's dependents; (2) The payee has been advised in writing by the transferee to seek independent professional advice regarding the transfer and has either received such advice or knowingly waived such advice in writing; and (3) The transfer does not contravene any applicable statute or the order of any court or other government authority.