South Dakota § 21-3B-4 Rights and obligations following transfer.

South Dakota Statutes

§ 21-3B-4 — Rights and obligations following transfer.

South Dakota § 21-3B-4

Title 21JUDICIAL REMEDIES

Ch. 21-3BSTRUCTURED SETTLEMENTS

This text of South Dakota § 21-3B-4 (Rights and obligations following transfer.) 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-4 (2026).

Text

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

(1)The structured settlement obligor and the annuity issuer shall, as to all parties except the transferee, be discharged and released from any liability for the transferred payments;

(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 such parties as a consequence of the transfer; and (b) For any other liabilities or costs, including reasonable costs and attorneys' fees, arising from compliance by such parties with the order of the court or responsible administrative authority or arising as a consequence of the transferee's failure to comply with this chapter; (3

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Following a transfer of structured settlement payment rights under this chapter: (1) The structured settlement obligor and the annuity issuer shall, as to all parties except the transferee, be discharged and released from any liability for the transferred payments; (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 such parties as a consequence of the transfer; and (b) For any other liabilities or costs, including reasonable costs and attorneys' fees, arising from compliance by such parties with the order of the court or responsible administrative authority 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.