Source: http://www.settlementexchange.org/state-structured-settlement-protection-act/sell-structured-settlements-nebraska-sell-structured-insurance-settlements/
Timestamp: 2019-04-25 20:27:07+00:00

Document:
Prior to selling structured insurance settlements in NE, one needs to be keenly aware of their rights as a structured insurance settlement recipient under the Nebraska Structured Settlement Protection Act.
Receiving lump sum cash for structured settlement payments can be an exciting proposition to a structured insurance settlement recipient in Nebraska. Settlement Exchange recommends that you review your structured insurance recipient and annuitant rights before contemplating the sale of structured settlement payments in Nebraska or even procuring cash quotes for your structured settlement.
We firmly believe that basic education is the key to securing the best quotes for structured insurance settlements and lottery annuity payments. We always advise that one knows their rights as protected under the Nebraska Structured Settlement Protection Act. We also advise that one should secure their own legal advice before attempting to get cash for structured settlement payments.
The Nebraska Structured Settlement Protection Act dictates that a transferee of structured settlements must reside in the state of Nebraska. A Nebraska State court must also approve the selling of the structured insurance settlement and the sale of structured insurance settlements has to be in the best interest of the structured settlement recipient in all cases.
We have attached a copy of the Nebraska Structured Settlement Protection Act and a direct link for your benefit.
Sections 25-3101 to 25-3107 shall be known and may be cited as the Structured Settlements Transfers Protection Act.
protect structured settlement recipients involved in the process of transferring structured settlement payment rights. The act does not apply to structured settlements of claims for workers’ compensation benefits.
Source:Laws 2001, LB 55, § 2.
(14) Transferee means a person who is receiving or will receive structured settlement payment rights resulting from a transfer.
Source:Laws 2001, LB 55, § 3.
25-3104. Transfer of payment rights; court order; requirements.
(g) The transfer does not contravene any applicable statute or order of any court or other government authority.
(2) The court may not authorize a transfer if the court makes an express written finding that the transfer contravenes the public policy of this state.
(3) The transfer agreement shall also provide that the parties agree to the jurisdiction of any Nebraska court of competent jurisdiction. If the transfer would contravene the terms of the structured settlement or the standards set forth in subsection (1) or (2) of this section, the court may grant, deny, or impose conditions upon the proposed transfer as the court deems just and proper under the facts and circumstances, upon the filing of a written objection by any interested party and after considering the objection and any response to it. Any order approving a transfer must require that the transferee indemnify the annuity issuer and the structured settlement obligor for any liability including reasonable costs and attorney’s fees arising from compliance by the issuer or obligor with the order of the court.
(4) A provision in a transfer agreement giving a transferee power to confess judgment against a payee is unenforceable to the extent the amount of the judgment would exceed the amount paid by the transferee to the payee, less any payments received from the structured settlement obligor or the payee.
(5) With respect to a transfer of structured settlement payment rights a transferee may not contract for or receive a discount or finance charge that would result in an effective annual rate in excess of the maximum interest rate per year applicable in Nebraska to a consumer loan as set forth in section 45-101.03.
Source:Laws 2001, LB 55, § 4.
(1) The Nebraska court that approved the structured settlement agreement has jurisdiction over an application for authorization of a transfer of structured settlement payment rights. If a Nebraska court did not approve the structured settlement agreement, a person shall file an application under section 25-3104 in the district court for the county in which the payee resides.
(d) Notice that an interested party is entitled to support, oppose, or otherwise respond to the transferee’s application, either in person or by counsel, by submitting written comments to the court or by participating in the hearing, and 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 in order to be considered by the court. Written responses to the application shall be filed within fifteen days after service of the transferee’s notice.
Source:Laws 2001, LB 55, § 5.
25-3106. Waiver prohibited; failure to meet conditions; effect.
The provisions of sections 25-3103 to 25-3105 may not be waived. No payee who proposes to make a transfer of structured settlement payment rights shall incur a penalty, forfeit an application fee or other payment, or otherwise incur any liability to the proposed transferee based on the failure of the transfer to satisfy the conditions of section 25-3104.
Source:Laws 2001, LB 55, § 6.
The Structured Settlements Transfers Protection Act applies to any transfer of structured settlement payment rights under a transfer agreement entered into on or after January 1, 2002.
Source:Laws 2001, LB 55, § 7.

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