141.004 – APPROVAL OF TRANSFERS OF STRUCTURED SETTLEMENT
Texas Civil Practice and Remedies Code § 141.004
Summary
This law requires court approval for any transfer of structured settlement payment rights to ensure it serves the best interest of the payee. It affects individuals receiving structured settlements and those looking to transfer their payment rights.
Court approval is mandatory for structured settlement transfers.
Transfers must be in the best interest of the payee.
Obligors and issuers are not liable without court approval.
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In simple terms: Learn about Texas's APPROVAL OF TRANSFERS OF STRUCTURED SETTLEMENT law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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