33-20-1411. Responsibility for compliance -- liability.
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/mt/title-33/chapter-20/part-14/33-20-1411·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
33-20-1411 . Responsibility for compliance -- liability.
(1)Compliance with the requirements in 33-20-1403 and fulfillment of the conditions in 33-20-1404 are the sole responsibility of the transferee in any transfer of a structured settlement payment right. Neither the structured settlement obligor nor the annuity issuer bears responsibility for or liability arising from noncompliance with 33-20-1403 or failure to fulfill the conditions of 33-20-1404 .
(2)A payee who proposes to make a transfer of a structured settlement payment right may not incur a penalty, forfeit an application fee or other payment, or otherwise incur any liability to the proposed transferee or any assignee based on a failure of a transfer agreement to satisfy the conditions of this part.