Ohio § 2323.583
Full text of Ohio Ohio Revised Code § 2323.583, with citation guidance and answers to common questions.
§ 2323.583.
Following a transfer of structured settlement payment rights pursuant to sections 2323.58 to 2323.585 of the Revised Code , all of the following apply: (A) The structured settlement obligor and the annuity issuer may rely on the court order
approving the transfer in redirecting periodic payments to an assignee or transferee
in accordance with the order approving the transfer and shall, as to all parties except
the transferee or an assignee designated by the transferee, be discharged and released
from any and all liability for the redirected payments. That discharge and release shall not be affected by the failure of any party to
the transfer to comply with sections 2323.58 to 2323.585 of the Revised Code or with the court order approving the transfer. (B) The transferee shall be liable to the structured settlement obligor and the annuity
issuer, as follows: (1) For any taxes incurred by the structured settlement obligor or annuity issuer as
a consequence of the transfer, if the transfer contravenes the terms of the structured
settlement; (2) For any other liabilities or costs, including reasonable costs and attorneys' fees,
arising from compliance by the structured settlement obligor or annuity issuer with
the court order approving the transfer or from the failure of any party to the transfer
to comply with sections 2323.58 to 2323.585 of the Revised Code . (C) Neither the annuity issuer nor the structured settlement obligor may be required
to divide any periodic payment between the payee and any transferee or assignee or
between two or more transferees or assignees. (D) Any further transfer of structured settlement payment rights by the payee may be
made only if the transfer complies with all of the requirements of sections 2323.58 to 2323.585 of the Revised Code .
Frequently Asked Questions About Ohio § 2323.583
What does Ohio Revised Code § 2323.583 cover?
Section 2323.583 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 2323.583?
A common citation format is "Ohio Revised Code § 2323.583" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 2323.583 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.