Oklahoma § 12-3243 - Application for approval of transfer of payment rights

§ 12-3243. Application for approval of transfer of payment rights

A. An application under the Structured Settlement Protection

Act for approval of a transfer of structured settlement payment

rights shall be made by the transferee and may be brought in the

county in which the payee resides, in the county in which the

Oklahoma Statutes - Title 12. Civil Procedure

structured settlement obligor or the annuity issuer maintains its

principal place of business, or in any court or before any

responsible administrative authority which approved the structured

settlement agreement.

B. Not less than twenty (20) days prior to the scheduled

hearing on any application for approval of a transfer of structured

settlement payment rights under Section 4 of this act, 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 authorization,

including with 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 Section 3

of this act;

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 (15) days after service of the transferee’s notice, in

order to be considered by the court or responsible administrative

authority.

Added by Laws 2001, c. 70, § 6, eff. Nov. 1, 2001.