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5 sections in this chapter.
Mass. Gen. Laws ch. 231C, § 1 Definitions
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Section 1. For the purposes of this chapter the following words shall have the following meanings unless the context otherwise requires: ''Annuity issuer'', an insurer that has issued an annuity contract to be used to fund periodic payments under a structured settlement. ''Applic…
Mass. Gen. Laws ch. 231C, § 2 Transfers of structured settlement payment rights
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Section 2. (a) No direct or indirect transfer of structured settlement payment rights shall be effective, and no structured settlement obligor or annuity issuer shall be required to make a payment directly or indirectly to a transferee of structured settlement payment rights, unl…
Mass. Gen. Laws ch. 231C, § 3 Waiver of Secs. 2 to 4; payee penalty for failure to transfer
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Section 3. (a) The provisions of sections 2 to 4, inclusive, shall not be waived. (b) No payee who proposes to make a transfer of structured settlement payment rights shall incur a penalty, forfeit an application fee or other payment, or otherwise incur any liability to the propo…
Mass. Gen. Laws ch. 231C, § 4 Violations of discount/finance charge stipulation or of disclosure requirements; penalties; civil actions by attorney general
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Section 4. (a) If in connection with a transfer of structured settlement payment rights, a transferee has violated the discount/finance charge stipulation, neither the transferee nor any assignee shall be entitled to collect from the transferred payment rights, or from the payee,…
