Source: http://structuredsettlementatty.com/okalahoma-%C2%A712-3239-definitions/
Timestamp: 2019-04-19 06:37:59+00:00

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8. A statement that the payee has the right to cancel the transfer agreement, without penalty or further obligation, not later than the third business day after the date the agreement is signed by the payee.
§12-3241. Judicial or administrative approval of transfer of payment – Required findings.
3. The transfer does not contravene any applicable statute or the order of any court or other government authority.
§12-3242. Discharge and release from liability.
4. Any further transfer of structured settlement payment rights by the payee may be made only after compliance with all of the requirements of the Structured Settlement Protection Act of 2001.
§12-3243. Application for approval of transfer of payment rights.
A. An application under the Structured Settlement Protection Act for approval of a transfer of structured settlement payment rights shall be made by the transferee and may be brought in the county in which the payee resides, in the county in which the structured settlement obligor or the annuity issuer maintains its principal place of business, or in any court or before any responsible administrative authority which approved the structured settlement agreement.
6. Notification of the time and place of the hearing and notification of the manner in which and the time by which written responses to the application must be filed, which shall be not less than fifteen (15) days after service of the transferee’s notice, in order to be considered by the court or responsible administrative authority.
Added by Laws 2001, c. 70, § 6, eff. Nov. 1, 2001.
§12-3244. Waiver of provisions – Disputes – Life-contingent payments – Liability.
A. The provisions of the Structured Settlement Protection Act of 2001 may not be waived by any payee.
B. Any transfer agreement entered into on or after the effective date of this act by a payee who resides in this state shall provide that disputes under such transfer agreement, including any claim that the payee has breached the agreement, shall be determined in and under the laws of this state. No such transfer agreement shall authorize the transferee or any other party to confess judgment or consent to entry of judgment against the payee.
2. Giving the annuity issuer and the structured settlement obligor prompt written notice in the event of the payee’s death.
D. No payee who proposes to make a transfer of structured settlement payment rights shall incur any penalty, forfeit any application fee or other payment, or otherwise incur any liability to the proposed transferee or any assignee based on any failure of such transfer to satisfy the conditions of this act.
E. Nothing contained in this act shall be construed to authorize any transfer of structured settlement payment rights in contravention of any law or to imply that any transfer under a transfer agreement entered into prior to the effective date of this act is valid or invalid.
F. Compliance with the requirements set forth in Section 3 of this act and fulfillment of the conditions set forth in Section 4 of this act shall be solely the responsibility of the transferee in any transfer of structured settlement payment rights, and neither the structured settlement obligor nor the annuity issuer shall bear any responsibility for, or any liability arising from, noncompliance with such requirements or failure to fulfill such conditions.
This act shall apply to any transfer of structured settlement payment rights under a transfer agreement entered into on or after the thirtieth day after the date of enactment of this act; provided that nothing contained herein shall imply that any transfer under a transfer agreement reached prior to such date is either effective or ineffective.
Added by Laws 2001, c. 70, § 8, eff. Nov. 1, 2001.

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