2010 Maryland Code
COURTS AND JUDICIAL PROCEEDINGS
TITLE 5 - LIMITATIONS, PROHIBITED ACTIONS, AND IMMUNITIES
Subtitle 11 - Structured Settlements
Section 5-1102 - Transfer of certain structured settlement payment rights.
§ 5-1102. Transfer of certain structured settlement payment rights.
(a) In general.- A direct or indirect transfer of structured settlement payment rights to a transferee is effective as provided in this subtitle.
(b) Payments to transferee authorized in certain circumstances.- A structured settlement obligor or annuity issuer may not make any payment directly or indirectly to a transferee of structured settlement payment rights unless the transfer is authorized in an order of a court based on a finding that:
(1) The transfer is necessary, reasonable, or appropriate;
(2) The transfer is not expected to subject the payee, the payee's dependents, or both, to undue or unreasonable financial hardship in the future;
(3) The payee received independent professional advice regarding the legal, tax, and financial implications of the transfer; and
(4) The transferee disclosed to the payee the discounted present value.
[2000, ch. 366.]
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