DEFINITIONS.

60A.975 DEFINITIONS. § Subdivision 1.Application. For purposes of sections 60A.975 and 60A.976, the definitions in this section have the meanings given them. § Subd. 2.Annuity issuer. "Annuity issuer" means an insurer that issues an insurance contract used to fund periodic payments under a structured settlement agreement. § Subd. 3.Structured settlement. "Structured settlement" means an arrangement for periodic payment of damages entered on behalf of a minor or incompetent person for personal injuries established by settlement or judgment. § Subd. 4.Structured settlement agreement. "Structured settlement agreement" means the agreement, judgment, stipulation, or release embodying the terms of a structured settlement. History: 2001 c 131 s 4