Colonial pays cash for structured settlements!

Delaware statues regarding Structured Settlements. This state statute overseeing the sale of structured settlement payments and the buying of annuities is not exactly the Model Act but complies with Federal Law. It does allow the Attorney General involvement. (Colonial's interpretation) DELAWARE CODE ANNOTATED TITLE 10. COURTS AND JUDICIAL PROCEDURE PART IV. SPECIAL PROCEEDINGS CHAPTER 66. STRUCTURED SETTLEMENTS

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§ 6603 Jurisdiction; procedure for approval of transfers.

(a) The Superior Court shall have non-exclusive jurisdiction over any application for authorization,
under § 6601 of this title, of a transfer of structured settlement payment rights.

(b) Not less than 20 days prior to the scheduled hearing on any application for authorization of a
transfer of structured settlement payment rights under § 6601 of this title, the transferee shall file with
the court and serve on any other government authority which previously approved the structured
settlement, on all interested parties, and on the Office of the Attorney General, the Director of the
Consumer Affairs Unit, the Insurance Commissioner and any known State official who is vested with
discretionary authority to be heard in proceedings under this chapter, a notice of the proposed transfer
and the application for its authorization, including in such notice:

(1) a copy of the transferee's application;

(2) a copy of the transfer agreement;

(3) a copy of the disclosure statement required under § 6601(b) of this title;

(4) 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

(5) 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 shall be not less than fifteen (15)
days after service of the transferee's notice) in order to be considered by the court or responsible
administrative authority.

(c) Those parties, persons and officials named in § 6603(b) of this title shall have standing to raise,
appear and be heard on any matter relating to an application for authorization of a transfer of structured
settlement payment rights under this chapter.

§ 6604 No waiver; no penalties.

(a) The provisions of this chapter shall not be waived.

(b) No payee who proposes to make a transfer of structured settlement payment rights shall inure any
penalty, forfeit any application fee or other payment, or otherwise incur any liability to the proposed
transferee based on any failure of such transfer to satisfy the conditions of § 6601 of this title.

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