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State Structured Settlement Consumer Protection Laws

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:

  • Full disclosure from structured settlement buyers: Funding companies are obligated to provide a disclosure that includes all of the terms of the transaction in a very clear and concise manner for the protection of the seller.
  • A “cooling off period:” The seller must be allowed a period of time during which s/he can reconsider  the decision to sell structured settlement payments
  • Court approval: all sales or transfers of annuities or structured settlement payments must have the approval of a judge. This approval will depend largely upon the seller’s unique financial situation and whether or not it is determined that such a sale is in the seller’s best interests.

You can learn more about your state’s structured settlement protection laws below:

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming

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