Colonial pays cash for structured settlements!

Kentucky statues regarding Structured Settlements. This state statute overseeing the sale of structured settlement payments and the buying of annuities is not the Model Act but complies with Federal Law . The "imminent financial harm" finding makes it unworkable. (Colonial's interpretation) BALDWIN'S KENTUCKY REVISED STATUTES ANNOTATED TITLE XLII. MISCELLANEOUS PRACTICE PROVISIONS CHAPTER 454. MISCELLANEOUS CIVIL PRACTICE PROVISIONS TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS Current through End of 2002 Reg. Sess.

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454.435 JURISDICTION OF THE CIRCUIT COURT; NOTICE AND HEARING
REQUIREMENTS; NONWAIVERABILITY OF KRS 454.430 TO 454.435

(1) The Circuit Court in the county in which the original action was or could have been filed, or
the county where the applicant resides, shall have jurisdiction over any application for approval
of a transfer of structured settlement payment rights under KRS 454.431.

(2) Not less than twenty (20) days prior to the scheduled hearing on any application for court
approval of a transfer of structured settlement payment rights under KRS 454.431, the payee or
transferee shall file with the court and serve on all protected parties a notice of the proposed
transfer and the application for its approval, including in the notice:

(a) A copy of the transferee's application to the court;

(b) A copy of the disclosure statement required under KRS 454.431(2); and

(c) 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
ten (10) days after service of the transferee's notice, in order to be considered by the court.

(3) The provisions of KRS 454.430 to 454.435 may not be waived.

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