Utah § 78B-6-1504 Approval of transfers of structured settlement payment rights.

Utah Statutes

§ 78B-6-1504 — Approval of transfers of structured settlement payment rights.

Utah § 78B-6-1504

Title 78BJudicial Code

Ch. 78B-6Particular Proceedings

Part 78B-6-15Structured Settlement Protection Act

This text of Utah § 78B-6-1504 (Approval of transfers of structured settlement payment rights.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 78B-6-1504 (2026).

Text

Direct or indirect transfer of structured settlement payment rights may not be effective and a structured settlement obligor or annuity issuer may not be 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 based on express findings by the court that:

(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

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Direct or indirect transfer of structured settlement payment rights may not be effective and a structured settlement obligor or annuity issuer may not be 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 based on express findings by the court that:
(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.