California Insurance Code

§ 10139.3

INS § 10139.3 Effective Jan 1, 2010Div. 2 · Part 2 · Ch. 1 · Art. 2.3

Statute text

(a)None of the provisions of this article may be waived by the payee.

(b)Compliance with the requirements set forth in Sections 10136, 10137, and 10138 shall be solely the responsibility of the transferee in any transfer of structured settlement payment rights.

(c)A payee who proposes to make a transfer of structured settlement payment rights shall not incur any penalty, shall not forfeit any application fee or other payment, and shall not otherwise incur any liability to the proposed transferee based on any failure of that transfer to satisfy the requirements of Sections 10136, 10137, and 10138.

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Legislative history

Amended by Stats. 2009, Ch. 593, Sec. 7. (SB 510) Effective January 1, 2010.