Effect of disapproval of transfers; waiver prohibited; unlawful
transfers
Sec. 9. (a) A payee who proposes to make a transfer of structured
settlement payment rights does not:
(1) incur a penalty;
(2) forfeit an application fee or other payment; or
(3) otherwise incur a liability to the proposed transferee;
if the transfer is not approved by a court under section 7 of this
chapter.
(b) A provision of this chapter may not be waived.
(c) This chapter does not:
(1) authorize a transfer of structured settlement payment rights
in contravention of applicable law; or
(2) give effect to a transfer of structured settlement payment
rights that is void under applicable law.
As added by P.L.219-2001, SEC.6.
Last modified: May 24, 2006