Approval by court, notice
When someone wants to sell their structured settlement payments, they have to go through a court process. The person buying the payments must let all interested parties know at least 20 days before the court hearing, and share copies of important documents with them. Interested parties then have at least 10 days to respond in writing. None of the rules in this law can be skipped or ignored.
407.1064. Approval by court, notice. — 1. An sections 407.1060 to 407.1068 for approval of a of may be brought in the in the county in which the is , or in any court which approved the agreement.
2. Not less than twenty days prior to the scheduled on any application for court approval of a transfer of structured settlement payment rights pursuant to section 407.1062, the shall file with the court and serve on all a notice of the proposed transfer and the application for its approval, including in the notice:
(1) A copy of the transferee's application to the court;
(2) A copy of the disclosure statement required pursuant to (2) of section 407.1062; and
(3) Notification of the time and place of the hearing and notification of the manner in which and the time by which written responses to the application may be filed by interested parties, which shall be not less than ten days after of the transferee's notice, in to be considered by the court.
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Source & history notes
(L. 1999 S.B. 1, et al. § 5)
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