Washington § 19.205.040 - Posttransfer of rights — Liabilities — Requirements.

Full text of Washington Revised Code of Washington § 19.205.040 — Posttransfer of rights — Liabilities — Requirements., with citation guidance and answers to common questions.

§ 19.205.040. Posttransfer of rights — Liabilities — Requirements.

Following a transfer of structured settlement payment rights under this chapter:
(1) The structured settlement obligor and the annuity issuer shall, as to all parties except the transferee, be discharged and released from any and all liability for the transferred payments;
(2) The transferee shall be liable to the structured settlement obligor and the annuity issuer:
(a) If the transfer contravenes the terms of the structured settlement, for any taxes incurred by such parties as a consequence of the transfer; and
(b) For any other liabilities or costs, including reasonable costs and attorneys' fees, arising from compliance by such parties with the order of the court or responsible administrative authority or arising as a consequence of the transferee's failure to comply with this chapter;
(3) 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; and
(4) Any further transfer of structured settlement payment rights by the payee may be made only after compliance with all of the requirements of this chapter.
[ 2001 c 178 s 5.]

Source: official Washington text · Last verified 2026-08-27

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Frequently Asked Questions About Washington § 19.205.040

What does Revised Code of Washington § 19.205.040 cover?

Section 19.205.040 ("Posttransfer of rights — Liabilities — Requirements.") is part of the Revised Code of Washington, the codified statutory law of Washington. 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 Washington § 19.205.040?

A common citation format is "Revised Code of Washington § 19.205.040" (Washington). 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 Washington law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Washington official source linked on this page or consult a licensed Washington attorney.

How does Washington § 19.205.040 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Washington can advise on how this section applies to you. Contact your state or local bar association for a referral.

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