Sec. 52-225j. Transfer of structured settlement payment rights: Effect. - Connecticut Statutes

      Sec. 52-225j. Transfer of structured settlement payment rights: Effect. Following a transfer of structured settlement payment rights under sections 52-225g to 52-225l, inclusive:

      (1) The structured settlement obligor and the annuity issuer shall, as to all parties except the transferee, be discharged and released from any and all liability for the transferred payments;

      (2) The transferee shall be liable to the structured settlement obligor and the annuity issuer:

      (A) If the transfer contravenes the terms of the structured settlement, for any taxes incurred by such parties as a consequence of the transfer, and

      (B) For any other liabilities or costs, including reasonable costs and attorney's fees, arising from compliance by such parties with the order of the court or responsible administrative authority or arising as a consequence of the transferee's failure to comply with sections 52-225g to 52-225l, inclusive;

      (3) Neither the structured settlement obligor nor the annuity issuer may be required to divide any periodic payment between the payee and any transferee or assignee or between two or more transferees or assignees; and

      (4) Any further transfer of structured settlement payment rights by the payee may be made only after compliance with all of the requirements of sections 52-225g to 52-225l, inclusive.

      (P.A. 03-110, S. 4.)

      See Sec. 52-225l re transfer agreements to which applicable.