Connecticut § 52-225k - Transfer of structured settlement payment rights: Procedure for approval.

§ 52-225k. Transfer of structured settlement payment rights: Procedure for approval.

Sec. 52-225k. Transfer of structured settlement payment rights: Procedure for approval. (a) Except as provided in subsection (b) of this section, an application under sections 52-225g to 52-225l, inclusive, for approval of a transfer of structured settlement payment rights shall be made by the transferee and may be brought in the superior court for the judicial district in which the payee resides or in which the structured settlement obligor or annuity issuer maintains its principal place of business or in the superior court or before the responsible administrative authority that approved the structured settlement agreement.

(b) An application for approval of the transfer of structured settlement payment rights by a conservator or guardian appointed by a Probate Court of this state shall be brought by the transferee in the Probate Court having jurisdiction over the conservator or guardian. Upon the filing of an application in a Probate Court under this section, the court shall give notice of the time and place of the hearing by first class mail to the interested parties and to the parties to the conservatorship or guardianship matter. The court shall hear and decide the matter in accordance with the provisions of sections 52-225g to 52-225l, inclusive.

(c) Not less than twenty days prior to the scheduled hearing on any application for approval of a transfer of structured settlement payment rights under section 52-225i, the transferee shall file with the court or responsible administrative authority and serve on all interested parties a notice of the proposed transfer and the application for its approval, including with the 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 section 52-225h;

(4) A listing of each of the payee's dependents, together with each dependent's age;

(5) 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

(6) 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 days after service of the transferee's notice, in order to be considered by the court or responsible administrative authority.

(P.A. 03-110, S. 5; P.A. 17-136, S. 16.)

History: P.A. 17-136 amended Subsec. (a) by adding “Except as provided in subsection (b) of this section”, added new Subsec. (b) re application for approval of transfer of structured settlement payment rights brought by conservator or guardian appointed by Probate Court to be brought by transferee in Probate Court having jurisdiction over conservator or guardian, and redesignated existing Subsec. (b) as Subsec. (c), effective January 1, 2018.