Source: https://www.structuredsettlement-quotes.com/new-york-state-structured-settlement-protection-act
Timestamp: 2019-04-19 18:18:37+00:00

Document:
In the state of New York the law provides that the customer lives in the state, and must be approved by local court in state. Approval granted only if the transaction is fair and reasonable, and in the customers best interest. There also exists a 10 day waiting period to protect the customer.
(t) "transferee" means a party acquiring or proposing to acquire structured settlement payment rights through a transfer or restructuring.
§ 5-1702. Initial disclosure of structured settlement terms.
§ 5-1703. Required disclosures to payee.
§ 5-1704. Provisions prohibited in transfer agreement.
(d) any provision that requires the payee to pay any tax liability arising under federal tax laws, other than the seller's own tax liability, if any, that results from the transfer.
§ 5-1705. Procedure for approval of transfers.
(iii) a listing of each of the payee's dependents, together with each dependent's age.
§ 5-1706. Approval of transfers of structured settlement payment rights.
§ 5-1707. Effects of transfer of structured settlement payment rights.
§ 5-1708. General provisions; construction.
(ii) giving the annuity issuer and the structured settlement obligor prompt written notice in the even of the payee's death.
§ 5-1708-a. Waiver for families of victims of terrorist attacks.
(c) For purposes of this section, the term "victim" shall mean a decedent who died as a result of wounds or injury incurred as a result of the terrorist attacks against the World Trade Center or the Pentagon on September eleventh, two thousand one, or the terrorist-related aircraft crash in Pennsylvania on such date, but shall not include any individual identified by the United States attorney general to have been a participant or conspirator in such attack or a representative of such an individual.
(b) Any payee injured by a violation of this title may bring an action for the recovery of damages. The court may award reasonable attorney's fees to the prevailing plaintiff.

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