Disclosure statements
Sec. 6. Not less than ten (10) days before the date on which a
payee becomes obligated under a transfer agreement, the transferee
shall provide to the payee and other interested parties a disclosure
statement, in boldface type of not less than fourteen (14) points in
size, that includes the following:
(1) The amounts and due dates of the structured settlement
payments to be transferred under the transfer agreement.
(2) The aggregate amount of the payments disclosed under
subdivision (1).
(3) An estimate of the present fair market value of the future
periodic payments under the structured settlement agreement.
(4) The gross amount payable to the payee as consideration for
the transfer of the structured settlement payments disclosed
under subdivision (1).
(5) An itemized list of all:
(A) commissions;
(B) fees;
(C) costs;
(D) expenses; and
(E) charges;
payable by the payee or deductible from the gross amount
payable to the payee, as disclosed under subdivision (4).
(6) The net amount payable to the payee after any deduction is
made from the gross amount payable to the payee, as described
in subdivision (5).
(7) The quotient, expressed as a percentage, obtained by
dividing the net amount payable to the payee, as disclosed
under subdivision (6), by the estimate of the present fair market
value of the future periodic payments, as disclosed under
subdivision (3).
(8) The amount of any penalty and the aggregate amount of any
liquidated damages, including penalties, payable by the payee
in the event of a breach of the transfer agreement by the payee.
As added by P.L.219-2001, SEC.6.
Last modified: May 24, 2006