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CS/CS/HB 379: Transfers of Structured Settlement Payment Rights

GENERAL BILL by Insurance and Banking Subcommittee ; Civil Justice Subcommittee ; Santiago

Transfers of Structured Settlement Payment Rights; Revises specified disclosures & notices that are or may be required to be given in order to effect transfers of structured settlement payment rights & payments under such rights; revises time limit by which written response to application for transferring such rights must be filed; provides requirements for filing & contents of application; requires court to hold hearing on application; requires payee to appear in person unless court determines that good cause exists to excuse payee; provides that transferee is solely responsible for compliance with certain requirements; provides that following issuance of court order approving transfer, structured settlement obligor & annuity issuer may rely on order in redirecting certain payments & are released & discharged from certain liability; provides for construction if terms of structured settlement prohibit transfer for payment rights.

Effective Date: upon becoming a law
Last Action: 2/23/2016 House - Laid on Table, companion bill(s) passed, see CS/SB 458 (Ch. 2016-45) -HJ 541
Bill Text: PDF



Bill History

Date Chamber Action
10/16/2015 House • Filed
10/30/2015 House • Referred to Civil Justice Subcommittee; Insurance and Banking Subcommittee; Judiciary Committee -HJ 33
1/11/2016 House • On Committee agenda-- Civil Justice Subcommittee, 01/13/16, 9:00 am, Sumner Hall
1/12/2016 House • Introduced -HJ 33
1/13/2016 House • CS by Civil Justice Subcommittee; YEAS 12 NAYS 0 -HJ 241
1/19/2016 House • Pending review of CS under Rule 7.19(c)
• CS by Civil Justice Subcommittee read 1st time -HJ 226
1/21/2016 House • Now in Insurance and Banking Subcommittee -HJ 249
1/28/2016 House • On Committee agenda-- Insurance and Banking Subcommittee, 02/01/16, 12:00 pm, Sumner Hall
2/1/2016 House • CS/CS by Insurance and Banking Subcommittee; YEAS 12 NAYS 0 -HJ 364
2/2/2016 House • Pending review of CS under Rule 7.19(c)
• CS/CS by Insurance and Banking Subcommittee read 1st time -HJ 359
2/3/2016 House • Now in Judiciary Committee -HJ 382
2/8/2016 House • On Committee agenda-- Judiciary Committee, 02/10/16, 9:00 am, Sumner Hall
2/10/2016 House • Favorable by- Judiciary Committee; YEAS 16 NAYS 0 -HJ 436
• Placed on Calendar -HJ 436
2/19/2016 House • Placed on Special Order Calendar, 02/23/16
2/23/2016 House • Substituted CS/SB 458 -HJ 541
• Laid on Table, companion bill(s) passed, see CS/SB 458 (Ch. 2016-45) -HJ 541