2006 New York Code - Effects Of Transfer Of Structured Settlement Payment Rights.

 
    § 5-1707. Effects of transfer of structured settlement payment rights.
  Following  a transfer of structured settlement payment rights under this
  title:
    (a) The structured settlement obligor and the annuity issuer shall, as
  to all parties except the transferee, be discharged  and  released  from
  any and all liability for the transferred payments;
    (b)  The  transferee  shall  be  liable  to  the structured settlement
  obligor and the annuity issuer:
    (i)  if  the  transfer  contravenes  the  terms  of   the   structured
  settlement,  for  any taxes incurred by such parties as a consequence of
  the transfer; and
    (ii) 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 arising  as  a  consequence  of  the  transferee's
  failure to comply with this title;
    (c)  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
    (d)  Any  further  transfer of structured settlement payment rights by
  the payee may be made only after compliance with all of the requirements
  of this title.