Most states have certain protections in place for those selling structured settlement payments to a third party. All state laws regarding such transfers differ slightly. In general, however, all state regulations require:
You can learn more about your state’s structured settlement protection act below:
DELAWARE CODE ANNOTATED
TITLE 10. COURTS AND JUDICIAL PROCEDURE
PART IV. SPECIAL PROCEEDINGS
CHAPTER 66. STRUCTURED SETTLEMENTS
Revisor’s note. — This chapter became effective upon the signature of the
Governor on May 26, 2000.
Section 2 of 72 Del. Laws, c. 303, provides: “Nothing contained in this
chapter shall be construed to authorize any transfer of structured settlement
payment rights in contravention of applicable law or to give effect to any
transfer of structured settlement payment rights that is invalid under
applicable law.”
Section 3 of 72 Del. Laws, c. 303, provides: “This chapter shall apply to any
transfer of structured settlement payment rights under a transfer agreement
entered into on or after the thirty-first (31st) day after the date of
enactment of this chapter [May 26, 2000]; provided, however, that nothing
contained herein shall imply that any transfer under a transfer agreement
reached prior to such date is effective.”
10 Del.C. Pt. IV, Ch. 66, Refs & Annos