<HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 21-3B - STRUCTURED SETTLEMENTS 21-3B STRUCTURED SETTLEMENTS </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 21-3B STRUCTURED SETTLEMENTS "> <META NAME="Description" Content="South Dakota Codified Laws 21-3B"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: HG4 --><Div align="center"><!-- WP Style End: HG4 --> CHAPTER 21-3B <!-- WP Paired Style Off: HG4 --><!-- WP Style End: HG4 --> </Div> <br> <!-- WP Paired Style On: HG4C --><Div align="center"><!-- WP Style End: HG4C --> STRUCTURED SETTLEMENTS <!-- WP Paired Style Off: HG4C --><!-- WP Style End: HG4C --> </Div> <br> <p> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=21-3B-1">21-3B-1</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Definitions. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=21-3B-2">21-3B-2</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Transferee to provide disclosure statement--Information required. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=21-3B-3">21-3B-3</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Transfer effective only upon order of court or administrative authority--Findings required. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=21-3B-4">21-3B-4</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Rights and obligations following transfer. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=21-3B-5">21-3B-5</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Application for approval of transfer to be made by transferee--Venue--Notice of proposed transfer. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=21-3B-6">21-3B-6</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Payee may not waive provisions. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=21-3B-7">21-3B-7</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Disputes decided under state law. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=21-3B-8">21-3B-8</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Life-contingent payments not to be transferred--Exception. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=21-3B-9">21-3B-9</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> No payee liability for failure to comply with chapter. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=21-3B-10">21-3B-10</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Effect of chapter on existing laws and transfer agreements. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=21-3B-11">21-3B-11</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Transferee solely responsible for certain requirements. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <br> <!-- WP Paired Style On: B --><!-- WP Style End: B --> <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=21-3B-12">21-3B-12</A> <!-- WP Style Open: IN -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: IN --> Applicability of chapter. <!-- WP Paired Style Off: B --><!-- WP Style End: B --> <p> </BODY> </HTML> <br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 21-3B - STRUCTURED SETTLEMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2045834Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2045834SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045834CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2045834Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2045834DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2045834Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2045834Normal-000002 { margin-left: 1.14in; text-indent: -0.44in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2045834000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2045834SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045834SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2045834Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-3B-1"><span class="s2045834SENU">21-3B-1</span></a><span xml:space="preserve" class="s2045834SENU">. </span><span class="s2045834CL">Definitions.</span></p><p dir="ltr" class="s2045834Normal-000000"><span class="s2045834DefaultParagraphFont">Terms used in this chapter mean:</span></p><p dir="ltr" class="s2045834Normal-000001"><span class="s2045834DefaultParagraphFont">(1)    "Annuity issuer," an insurer that has issued a contract to fund periodic payments under a structured settlement;</span></p><p dir="ltr" class="s2045834Normal-000001"><span class="s2045834DefaultParagraphFont">(2)    "Dependents," a payee's spouse and any minor child and any other person for whom the payee is legally obligated to provide support, including alimony;</span></p><p dir="ltr" class="s2045834Normal-000001"><span class="s2045834DefaultParagraphFont">(3)    "Discounted present value," the present value of future payments determined by discounting such payments to the present using the most recently published applicable federal rate for determining the present value of an annuity, as issued by the United States Internal Revenue Service;</span></p><p dir="ltr" class="s2045834Normal-000001"><span class="s2045834DefaultParagraphFont">(4)    "Gross advance amount," the sum payable to the payee or for the payee's account as consideration for a transfer of structured settlement payment rights before any reductions for transfer expenses or other deductions to be made from such consideration;</span></p><p dir="ltr" class="s2045834Normal-000001"><span class="s2045834DefaultParagraphFont">(5)    "Independent professional advice," advice of an attorney, certified public accountant, actuary, or other licensed professional advisor;</span></p><p dir="ltr" class="s2045834Normal-000001"><span class="s2045834DefaultParagraphFont">(6)    "Interested parties," with respect to any structured settlement, the payee, any beneficiary irrevocably designated under the annuity contract to receive payments following the payee's death, the annuity issuer, the structured settlement obligor, and any other party that has continuing rights or obligations under such structured settlement;</span></p><p dir="ltr" class="s2045834Normal-000001"><span class="s2045834DefaultParagraphFont">(7)    "Net advance amount," the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under § 21-3B-2(5);</span></p><p dir="ltr" class="s2045834Normal-000001"><span class="s2045834DefaultParagraphFont">(8)    "Payee," an individual who is receiving tax free payments under a structured settlement and proposes to make a transfer of payment rights thereunder;</span></p><p dir="ltr" class="s2045834Normal-000001"><span class="s2045834DefaultParagraphFont">(9)    "Periodic payments," includes both recurring payments and scheduled future lump sum payments;</span></p><p dir="ltr" class="s2045834Normal-000001"><span class="s2045834DefaultParagraphFont">(10)    "Qualified assignment agreement," an agreement providing for a qualified assignment within the meaning of section 130 of the United States Internal Revenue Code, United States Code Title 26, as of January 1, 2001;</span></p><p dir="ltr" class="s2045834Normal-000001"><span class="s2045834DefaultParagraphFont">(11)    "Responsible administrative authority," with respect to a structured settlement, any governmental authority vested by law with exclusive jurisdiction over the settled claim resolved by such structured settlement;</span></p><p dir="ltr" class="s2045834Normal-000001"><span class="s2045834DefaultParagraphFont">(12)    "Settled claim," the original tort claim or workers' compensation claim resolved by a structured settlement;</span></p><p dir="ltr" class="s2045834Normal-000001"><span class="s2045834DefaultParagraphFont">(13)    "Structured settlement," an arrangement for periodic payment of damages for personal injuries or sickness established by settlement or judgment in resolution of a tort claim or for periodic payments in settlement of a workers' compensation claim;</span></p><p dir="ltr" class="s2045834Normal-000001"><span class="s2045834DefaultParagraphFont">(14)    "Structured settlement agreement," the agreement, judgment, stipulation, or release embodying the terms of a structured settlement;</span></p><p dir="ltr" class="s2045834Normal-000001"><span class="s2045834DefaultParagraphFont">(15)    "Structured settlement obligor," with respect to any structured settlement, the party that has the continuing obligation to make periodic payments to the payee under a structured settlement agreement or a qualified assignment agreement;</span></p><p dir="ltr" class="s2045834Normal-000001"><span class="s2045834DefaultParagraphFont">(16)    "Structured settlement payment rights," rights to receive periodic payments under a structured settlement, whether from the structured settlement obligor or the annuity issuer, if at least one of the following applies:</span></p><p dir="ltr" class="s2045834Normal-000002"><span class="s2045834DefaultParagraphFont">(a)    The payee is domiciled in, or the domicile or principal place of business of the structured settlement obligor or the annuity issuer is located in, this state; or</span></p><p dir="ltr" class="s2045834Normal-000002"><span class="s2045834DefaultParagraphFont">(b)    The structured settlement agreement was approved by a court or responsible administrative authority in this state; or</span></p><p dir="ltr" class="s2045834Normal-000002"><span class="s2045834DefaultParagraphFont">(c)    The structured settlement agreement is expressly governed by the laws of this state;</span></p><p dir="ltr" class="s2045834Normal-000002"><span xml:space="preserve" class="s2045834000003"> </span></p><p dir="ltr" class="s2045834Normal-000001"><span class="s2045834DefaultParagraphFont">(17)    "Terms of the structured settlement," include, with respect to any structured settlement, the terms of the structured settlement agreement, the annuity contract, any qualified assignment agreement, and any order or other approval of any court or responsible administrative authority or other government authority that authorized or approved such structured settlement;</span></p><p dir="ltr" class="s2045834Normal-000001"><span class="s2045834DefaultParagraphFont">(18)    "Transfer," any sale, assignment, pledge, hypothecation, or other alienation or encumbrance of structured settlement payment rights made by a payee for consideration. The term, transfer, does not include the creation of perfection of a security interest in structured settlement payment rights under a blanket security agreement entered into with an insured depository institution, in the absence of any action to redirect the structured settlement payments to such insured depository institution, or an agent or successor in interest thereof, or otherwise to enforce such blanket security interest against the structured settlement payment rights;</span></p><p dir="ltr" class="s2045834Normal-000001"><span class="s2045834DefaultParagraphFont">(19)    "Transfer agreement," the agreement providing for a transfer of structured settlement payment rights;</span></p><p dir="ltr" class="s2045834Normal-000001"><span class="s2045834DefaultParagraphFont">(20)    "Transfer expenses," any expenses of a transfer that are required under the transfer agreement to be paid by the payee or deducted from the gross advance amount, including court filing fees, attorneys fees, escrow fees, lien recordation fees, judgment and lien search fees, finders' fees, commissions, and other payments to a broker or other intermediary. Transfer expenses do not include preexisting obligations of the payee payable for the payee's account from the proceeds of a transfer;</span></p><p dir="ltr" class="s2045834Normal-000001"><span class="s2045834DefaultParagraphFont">(21)    "Transferee," a party acquiring or proposing to acquire structured settlement payment rights through a transfer.</span></p><p dir="ltr" class="s2045834Normal"><span xml:space="preserve" class="s2045834000003"> </span></p><p dir="ltr" class="s2045834Normal"><span class="s2045834SCL">Source:</span><span xml:space="preserve" class="s2045834SCL-000004"> SL 2001, ch 106, § 1.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 21-3B - STRUCTURED SETTLEMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2045835Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2045835SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045835CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2045835Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2045835DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2045835Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2045835000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2045835SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045835SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2045835Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-3B-2"><span class="s2045835SENU">21-3B-2</span></a><span xml:space="preserve" class="s2045835SENU">. </span><span class="s2045835CL">Transferee to provide disclosure statement--Information required.</span></p><p dir="ltr" class="s2045835Normal-000000"><span class="s2045835DefaultParagraphFont">Not less than three days before the date on which a payee signs a transfer agreement, the transferee shall provide to the payee a separate disclosure statement, in bold type no smaller than 14 points, setting forth the following information:</span></p><p dir="ltr" class="s2045835Normal-000001"><span class="s2045835DefaultParagraphFont">(1)    The amounts and due dates of the structured settlement payments to be transferred;</span></p><p dir="ltr" class="s2045835Normal-000001"><span class="s2045835DefaultParagraphFont">(2)    The aggregate amount of such payments;</span></p><p dir="ltr" class="s2045835Normal-000001"><span class="s2045835DefaultParagraphFont">(3)    The discounted present value of the payments to be transferred, which shall be identified as the "calculation of current value of the transferred structured settlement payments under federal standards for valuing annuities" and the amount of the applicable federal rate used in calculating such discounted present value;</span></p><p dir="ltr" class="s2045835Normal-000001"><span class="s2045835DefaultParagraphFont">(4)    The gross advance amount;</span></p><p dir="ltr" class="s2045835Normal-000001"><span class="s2045835DefaultParagraphFont">(5)    An itemized listing of all applicable transfer expenses, other than attorneys' fees and related disbursements payable in connection with the transferee's application for approval of the transfer, and the transferee's best estimate of the amount of any such fees and disbursements;</span></p><p dir="ltr" class="s2045835Normal-000001"><span class="s2045835DefaultParagraphFont">(6)    The net advance amount;</span></p><p dir="ltr" class="s2045835Normal-000001"><span class="s2045835DefaultParagraphFont">(7)    The amount of any penalties or liquidated damages payable by the payee in the event of any breach of the transfer agreement by the payee; and</span></p><p dir="ltr" class="s2045835Normal-000001"><span class="s2045835DefaultParagraphFont">(8)    A statement that the payee has the right to cancel the transfer agreement, without penalty or further obligation, not later than the third business day after the date the agreement is signed by the payee.</span></p><p dir="ltr" class="s2045835Normal"><span xml:space="preserve" class="s2045835000002"> </span></p><p dir="ltr" class="s2045835Normal"><span class="s2045835SCL">Source:</span><span xml:space="preserve" class="s2045835SCL-000003"> SL 2001, ch 106, § 2.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 21-3B - STRUCTURED SETTLEMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2045836Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2045836SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045836CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2045836Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2045836DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2045836Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2045836000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2045836SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045836SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2045836Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-3B-3"><span class="s2045836SENU">21-3B-3</span></a><span xml:space="preserve" class="s2045836SENU">. </span><span class="s2045836CL">Transfer effective only upon order of court or administrative authority--Findings required.</span></p><p dir="ltr" class="s2045836Normal-000000"><span class="s2045836DefaultParagraphFont">No direct or indirect transfer of structured settlement payment rights is effective and no structured settlement obligor or annuity issuer is 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 the following express findings by such court or responsible administrative authority:</span></p><p dir="ltr" class="s2045836Normal-000001"><span class="s2045836DefaultParagraphFont">(1)    The transfer is in the best interest of the payee, taking into account the welfare and support of the payee's dependents;</span></p><p dir="ltr" class="s2045836Normal-000001"><span class="s2045836DefaultParagraphFont">(2)    The payee has been advised in writing by the transferee to seek independent professional advice regarding the transfer and has either received such advice or knowingly waived such advice in writing; and</span></p><p dir="ltr" class="s2045836Normal-000001"><span class="s2045836DefaultParagraphFont">(3)    The transfer does not contravene any applicable statute or the order of any court or other government authority.</span></p><p dir="ltr" class="s2045836Normal"><span xml:space="preserve" class="s2045836000002"> </span></p><p dir="ltr" class="s2045836Normal"><span class="s2045836SCL">Source:</span><span xml:space="preserve" class="s2045836SCL-000003"> SL 2001, ch 106, § 3.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 21-3B - STRUCTURED SETTLEMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2045837Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2045837SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045837CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2045837Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2045837DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2045837Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2045837Normal-000002 { margin-left: 1.14in; text-indent: -0.44in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2045837000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2045837SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045837SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2045837Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-3B-4"><span class="s2045837SENU">21-3B-4</span></a><span xml:space="preserve" class="s2045837SENU">. </span><span class="s2045837CL">Rights and obligations following transfer.</span></p><p dir="ltr" class="s2045837Normal-000000"><span class="s2045837DefaultParagraphFont">Following a transfer of structured settlement payment rights under this chapter:</span></p><p dir="ltr" class="s2045837Normal-000001"><span class="s2045837DefaultParagraphFont">(1)    The structured settlement obligor and the annuity issuer shall, as to all parties except the transferee, be discharged and released from any liability for the transferred payments;</span></p><p dir="ltr" class="s2045837Normal-000001"><span class="s2045837DefaultParagraphFont">(2)    The transferee is liable to the structured settlement obligor and the annuity issuer:</span></p><p dir="ltr" class="s2045837Normal-000002"><span class="s2045837DefaultParagraphFont">(a)    If the transfer contravenes the terms of the structured settlement, for any taxes incurred by such parties as a consequence of the transfer; and</span></p><p dir="ltr" class="s2045837Normal-000002"><span class="s2045837DefaultParagraphFont">(b)    For any other liabilities or costs, including reasonable costs and attorneys' fees, arising from compliance by such parties with the order of the court or responsible administrative authority or arising as a consequence of the transferee's failure to comply with this chapter;</span></p><p dir="ltr" class="s2045837Normal-000001"><span class="s2045837DefaultParagraphFont">(3)    Neither the annuity issuer nor the structured settlement obligor may be required to divide any periodic payment between the payee and any transferee or assignee or between two or more transferees or assignees; and</span></p><p dir="ltr" class="s2045837Normal-000001"><span class="s2045837DefaultParagraphFont">(4)    Any further transfer of structured settlement payment rights by the payee may be made only after compliance with all of the requirements of this chapter.</span></p><p dir="ltr" class="s2045837Normal"><span xml:space="preserve" class="s2045837000003"> </span></p><p dir="ltr" class="s2045837Normal"><span class="s2045837SCL">Source:</span><span xml:space="preserve" class="s2045837SCL-000004"> SL 2001, ch 106, § 4.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 21-3B - STRUCTURED SETTLEMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2045838Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2045838SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045838CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2045838Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2045838DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2045838Normal-000001 { text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } p.s2045838Normal-000002 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2045838000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2045838SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045838SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2045838Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-3B-5"><span class="s2045838SENU">21-3B-5</span></a><span xml:space="preserve" class="s2045838SENU">. </span><span class="s2045838CL">Application for approval of transfer to be made by transferee--Venue--Notice of proposed transfer.</span></p><p dir="ltr" class="s2045838Normal-000000"><span class="s2045838DefaultParagraphFont">An application under this chapter for approval of a transfer of structured settlement payment rights shall be made by the transferee and may be brought in the county in which the payee resides, in the county in which the structured settlement obligor or the annuity issuer maintains its principal place of business, or in any court or before any responsible administrative authority which approved the structured settlement agreement.</span></p><p dir="ltr" class="s2045838Normal-000001"><span xml:space="preserve" class="s2045838DefaultParagraphFont">Not less than twenty days prior to the scheduled hearing on any application for approval of a transfer of structured settlement payment rights under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-3B-3"><span class="s2045838DefaultParagraphFont">21-3B-3</span></a><span class="s2045838DefaultParagraphFont">, the transferee shall file with the court or responsible administrative authority and serve on all interested parties a notice of the proposed transfer and the application for its authorization, including the following with such notice:</span></p><p dir="ltr" class="s2045838Normal-000002"><span class="s2045838DefaultParagraphFont">(1)    A copy of the transferee's application;</span></p><p dir="ltr" class="s2045838Normal-000002"><span class="s2045838DefaultParagraphFont">(2)    A copy of the transfer agreement;</span></p><p dir="ltr" class="s2045838Normal-000002"><span xml:space="preserve" class="s2045838DefaultParagraphFont">(3)    A copy of the disclosure statement required under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-3B-2"><span class="s2045838DefaultParagraphFont">21-3B-2</span></a><span class="s2045838DefaultParagraphFont">;</span></p><p dir="ltr" class="s2045838Normal-000002"><span class="s2045838DefaultParagraphFont">(4)    A listing of each of the payee's dependents, together with each dependent's age;</span></p><p dir="ltr" class="s2045838Normal-000002"><span class="s2045838DefaultParagraphFont">(5)    Notification that any interested party is entitled to support, oppose, or otherwise respond to the transferee's application, either in person or by counsel, by submitting written comments to the court or responsible administrative authority or by participating in the hearing; and</span></p><p dir="ltr" class="s2045838Normal-000002"><span class="s2045838DefaultParagraphFont">(6)    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 must be filed, which may not be less than fifteen days after service of the transferee's notice, in order to be considered by the court or responsible administrative authority.</span></p><p dir="ltr" class="s2045838Normal"><span xml:space="preserve" class="s2045838000003"> </span></p><p dir="ltr" class="s2045838Normal"><span class="s2045838SCL">Source:</span><span xml:space="preserve" class="s2045838SCL-000004"> SL 2001, ch 106, § 5.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 21-3B - STRUCTURED SETTLEMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2045839Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2045839SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045839CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2045839Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2045839DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2045839000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2045839SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045839SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2045839Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-3B-6"><span class="s2045839SENU">21-3B-6</span></a><span xml:space="preserve" class="s2045839SENU">. </span><span class="s2045839CL">Payee may not waive provisions.</span></p><p dir="ltr" class="s2045839Normal-000000"><span class="s2045839DefaultParagraphFont">The provisions of this chapter may not be waived by any payee.</span></p><p dir="ltr" class="s2045839Normal"><span xml:space="preserve" class="s2045839000001"> </span></p><p dir="ltr" class="s2045839Normal"><span class="s2045839SCL">Source:</span><span xml:space="preserve" class="s2045839SCL-000002"> SL 2001, ch 106, § 6.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 21-3B - STRUCTURED SETTLEMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2045840Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2045840SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045840CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2045840Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2045840DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2045840000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2045840SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045840SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2045840Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-3B-7"><span class="s2045840SENU">21-3B-7</span></a><span xml:space="preserve" class="s2045840SENU">. </span><span class="s2045840CL">Disputes decided under state law.</span></p><p dir="ltr" class="s2045840Normal-000000"><span class="s2045840DefaultParagraphFont">Any transfer agreement entered into on or after July 1, 2001, by a payee who resides in this state shall provide that disputes under such transfer agreement, including any claim that the payee has breached the agreement, shall be determined in and under the laws of this state. No such transfer agreement may authorize the transferee or any other party to confess judgment or consent to entry of judgment against the payee.</span></p><p dir="ltr" class="s2045840Normal"><span xml:space="preserve" class="s2045840000001"> </span></p><p dir="ltr" class="s2045840Normal"><span class="s2045840SCL">Source:</span><span xml:space="preserve" class="s2045840SCL-000002"> SL 2001, ch 106, § 7.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 21-3B - STRUCTURED SETTLEMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2045841Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2045841SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045841CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045841CL-000000 { font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2045841Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2045841DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2045841DefaultParagraphFont-000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2045841000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2045841SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045841SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2045841Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-3B-8"><span class="s2045841SENU">21-3B-8</span></a><span xml:space="preserve" class="s2045841SENU">. </span><span class="s2045841CL">Life</span><span class="s2045841CL-000000">-</span><span class="s2045841CL">contingent payments not to be transferred--Exception.</span></p><p dir="ltr" class="s2045841Normal-000001"><span class="s2045841DefaultParagraphFont">No transfer of structured settlement payment rights may extend to any payments that are life</span><span class="s2045841DefaultParagraphFont-000002">-</span><span class="s2045841DefaultParagraphFont">contingent unless, prior to the date on which the payee signs the transfer agreement, the transferee has established and has agreed to maintain procedures reasonably satisfactory to the annuity issuer and the structured settlement obligor for periodically confirming the payee's survival and giving the annuity issuer and the structured settlement obligor prompt written notice in the event of the payee's death.</span></p><p dir="ltr" class="s2045841Normal"><span xml:space="preserve" class="s2045841000003"> </span></p><p dir="ltr" class="s2045841Normal"><span class="s2045841SCL">Source:</span><span xml:space="preserve" class="s2045841SCL-000004"> SL 2001, ch 106, § 8.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 21-3B - STRUCTURED SETTLEMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2045842Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2045842SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045842CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2045842Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2045842DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2045842000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2045842SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045842SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2045842Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-3B-9"><span class="s2045842SENU">21-3B-9</span></a><span xml:space="preserve" class="s2045842SENU">. </span><span class="s2045842CL">No payee liability for failure to comply with chapter.</span></p><p dir="ltr" class="s2045842Normal-000000"><span class="s2045842DefaultParagraphFont">No payee who proposes to make a transfer of structured settlement payment rights may incur any penalty, forfeit any application fee or other payment, or otherwise incur any liability to the proposed transferee or any assignee based on any failure of such transfer to satisfy the conditions of this chapter.</span></p><p dir="ltr" class="s2045842Normal"><span xml:space="preserve" class="s2045842000001"> </span></p><p dir="ltr" class="s2045842Normal"><span class="s2045842SCL">Source:</span><span xml:space="preserve" class="s2045842SCL-000002"> SL 2001, ch 106, § 9.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 21-3B - STRUCTURED SETTLEMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2045843Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2045843SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045843CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2045843Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2045843DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2045843000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2045843SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045843SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2045843Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-3B-10"><span class="s2045843SENU">21-3B-10</span></a><span xml:space="preserve" class="s2045843SENU">. </span><span class="s2045843CL">Effect of chapter on existing laws and transfer agreements.</span></p><p dir="ltr" class="s2045843Normal-000000"><span class="s2045843DefaultParagraphFont">Nothing contained in this chapter authorizes any transfer of structured settlement payment rights in contravention of any law or to imply that any transfer under a transfer agreement entered into prior to July 1, 2001, is valid or invalid.</span></p><p dir="ltr" class="s2045843Normal"><span xml:space="preserve" class="s2045843000001"> </span></p><p dir="ltr" class="s2045843Normal"><span class="s2045843SCL">Source:</span><span xml:space="preserve" class="s2045843SCL-000002"> SL 2001, ch 106, § 10.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 21-3B - STRUCTURED SETTLEMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2045844Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2045844SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045844CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2045844Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2045844DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2045844000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2045844SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045844SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2045844Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-3B-11"><span class="s2045844SENU">21-3B-11</span></a><span xml:space="preserve" class="s2045844SENU">. </span><span class="s2045844CL">Transferee solely responsible for certain requirements.</span></p><p dir="ltr" class="s2045844Normal-000000"><span xml:space="preserve" class="s2045844DefaultParagraphFont">Compliance with the requirements set forth in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-3B-2"><span class="s2045844DefaultParagraphFont">21-3B-2</span></a><span xml:space="preserve" class="s2045844DefaultParagraphFont"> and fulfillment of the conditions set forth in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-3B-3"><span class="s2045844DefaultParagraphFont">21-3B-3</span></a><span xml:space="preserve" class="s2045844DefaultParagraphFont"> shall be solely the responsibility of the transferee in any transfer of structured settlement payment rights, and neither the structured settlement obligor nor the annuity issuer bears any responsibility for, or any liability arising from, noncompliance with such requirements or failure to fulfill such conditions.</span></p><p dir="ltr" class="s2045844Normal"><span xml:space="preserve" class="s2045844000001"> </span></p><p dir="ltr" class="s2045844Normal"><span class="s2045844SCL">Source:</span><span xml:space="preserve" class="s2045844SCL-000002"> SL 2001, ch 106, § 11.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 21-3B - STRUCTURED SETTLEMENTS </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2045845Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2045845SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045845CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2045845Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2045845DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2045845000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2045845SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2045845SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2045845Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=21-3B-12"><span class="s2045845SENU">21-3B-12</span></a><span xml:space="preserve" class="s2045845SENU">. </span><span class="s2045845CL">Applicability of chapter.</span></p><p dir="ltr" class="s2045845Normal-000000"><span class="s2045845DefaultParagraphFont">This chapter applies to any transfer of structured settlement payment rights under a transfer agreement entered into on or after July 1, 2001. Nothing contained in this chapter implies that any transfer under a transfer agreement reached prior to such date is either effective or ineffective.</span></p><p dir="ltr" class="s2045845Normal"><span xml:space="preserve" class="s2045845000001"> </span></p><p dir="ltr" class="s2045845Normal"><span class="s2045845SCL">Source:</span><span xml:space="preserve" class="s2045845SCL-000002"> SL 2001, ch 106, § 12.</span></p></div></body></html>