682.3 Required disclosures to payee. Not less than three days prior to the date on which a payee signs a transfer agreement, the transferee shall provide to the payee a separate disclosure statement, in bold type no smallerthan fourteen points, setting forth all of the following: 1. The amounts and due dates of the structured settlement payments to be transferred.2. The aggregate amount of the structured settlement payments.3. The discounted present value of the payments to be transferred which shall be identified as the 'calculation of current value of the transferred structured settlement payments underfederal standards for valuing annuities', and the amount of the applicable federal rate usedin calculating the discounted present value. 4. The gross advance amount.5. An itemized listing of all applicable transfer expenses, other than attorney fees and related disbursements payable in connection with the transferee’s application for approvalof the transfer, and the transferee’s best estimate of the amount of any such fees anddisbursements. 6. The net advance amount.7. The amount of any penalties or liquidated damages payable by the payee in the event of any breach of the transfer stimate of the amount of any such fees anddisbursements. 6. The net advance amount.7. The amount of any penalties or liquidated damages payable by the payee in the event of any breach of the transfer agreement by the payee. 8. A statement that the payee has the right to cancel the transfer agreement, without penalty or further obligation, not later than the third business day after the agreement issigned by the payee. 2001 Acts, ch 85, §3, 8Referred to in §682.2, 682.6, 682.7 Sat Dec 23 12:25:51 2023 Iowa Code 2024, Section 682.3 (15, 0)
Iowa Legal Code