141.005 – EFFECTS OF TRANSFER OF STRUCTURED SETTLEMENT
Texas Civil Practice and Remedies Code § 141.005
Summary
This law outlines the effects of transferring structured settlement payment rights, releasing the original parties from liability for those payments. It primarily affects structured settlement obligors, annuity issuers, and transferees involved in such transfers.
Original parties are released from liability after transfer.
Transferee assumes liability if transfer violates terms.
Ensures clarity in obligations post-transfer.
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In simple terms: Learn about Texas's EFFECTS OF TRANSFER 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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