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63 chapters · 804 sections in this title.
Va. Code Ann. § 59.1-475 Definitions
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For purposes of this chapter: "Annuity issuer" means an insurer that has issued a contract to fund periodic payments under a structured settlement. "Applicable federal rate" means the most recently published applicable federal rate for determining the present value of an annuity,…
Va. Code Ann. § 59.1-475.1 Required disclosures to payee
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Not less than three days prior to 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 fourteen points, setting forth: 1. The amounts and due dates of the structured settlemen…
Va. Code Ann. § 59.1-476 Approval of transfers of structured settlement payment rights
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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 any payment directly or indirectly to any transferee or assignee of structured settlement payment rights unle…
Va. Code Ann. § 59.1-476.1 Effects of transfer of structured settlement payment rights
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Following issuance of a court order approving a transfer of structured settlement payment rights under this chapter: 1. The structured settlement obligor and the annuity issuer may rely on the court order in redirecting periodic payments to an assignee or transferee in accordance…