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California Law (Last Updated: March 4, 2014) |
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Insurance Code - INS |
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Division 2. CLASSES OF INSURANCE |
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Part 2. LIFE AND DISABILITY INSURANCE |
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Chapter 1. The Contract |
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ARTICLE 2.3. Transfers of Structured Settlement Payment Rights |
Section 10135.
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(a) This article is only applicable to transfers entered into on or after January 1, 2000.
(b) Notwithstanding subdivision (a), the changes to this article made by the act amending this section in the 2001–02 Regular Session shall only be applicable to transfers entered into on or after January 1, 2002.
(c) This article is only applicable to transfers of structured settlement payment rights if one of the following requirements is met:
(1) The payee is domiciled in California at the time the transfer agreement is signed by the payee.
(2) The payee is not domiciled in California at the time the transfer agreement is signed and the state where the payee is domiciled does not have a structured settlement transfer statute, but either the structured settlement obligor or annuity issuer is domiciled in California.