A transfer of payment rights under ORS 33.850 to 33.875 is not effective and an obligor or annuity issuer is not required to make any payments directly or indirectly to a transferee unless the transfer has been approved in advance in a final court order or order of a responsible administrative authority based on express findings by the court or authority that:
(1) The transfer is in the best interest of the payee, taking into account the welfare and support of all persons for whom the payee is legally obligated to provide support.
(2) The payee has been advised in writing by the transferee to seek advice from an attorney, certified public accountant, actuary or other licensed professional adviser regarding the transfer, and the payee has either received the advice or knowingly waived advice in writing.
(3) The transfer does not contravene any applicable statute or order of any court or other government authority. [2005 c.173 §4]
Note: See note under 33.850.
Section: Previous 33.510 33.520 33.530 33.610 33.710 33.720 33.810 33.820 33.830 33.850 33.855 33.860 33.865 33.870 33.875 NextLast modified: August 7, 2008