Okla. Stat. tit. 12, § 12-3241
This is the official text of Okla. Stat. tit. 12, § 12-3241, part of Oklahoma’s Stat. tit. 12, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12,." Browse the sections below, each linked to its official government source.
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Judicial or administrative approval of transfer of
Official statutory text
payment - Required findings.
No direct or indirect transfer of structured settlement payment
rights shall be effective and no structured settlement obligor or
Oklahoma Statutes - Title 12. Civil Procedure Page 540
annuity issuer shall be required to make any payment directly or
indirectly to any transferee of structured settlement payment rights
unless the transfer has been approved in advance in a final court
order or order of a responsible administrative authority based on
express findings by such court or responsible administrative
authority that:
1. The transfer is in the best interest of the payee, taking
into account the welfare and support of the payee’s dependents;
2. The payee has been advised in writing by the transferee to
seek independent professional advice regarding the transfer and has
either received the advice or knowingly waived the advice in
writing; and
3. The transfer does not contravene any applicable statute or
the order of any court or other government authority.
No direct or indirect transfer of structured settlement payment
rights shall be effective and no structured settlement obligor or
Oklahoma Statutes - Title 12. Civil Procedure Page 540
annuity issuer shall be required to make any payment directly or
indirectly to any transferee of structured settlement payment rights
unless the transfer has been approved in advance in a final court
order or order of a responsible administrative authority based on
express findings by such court or responsible administrative
authority that:
1. The transfer is in the best interest of the payee, taking
into account the welfare and support of the payee’s dependents;
2. The payee has been advised in writing by the transferee to
seek independent professional advice regarding the transfer and has
either received the advice or knowingly waived the advice in
writing; and
3. The transfer does not contravene any applicable statute or
the order of any court or other government authority.
Status: in_force · Read it on the official government site
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