682.5 Effects of transfer of structured settlement payment rights. 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 transferredpayments. 2. The transferee shall be liable to the structured settlement obligor and the annuity issuer for all of the following: a. If the transfer contravenes the terms of the structured settlement, any taxes incurred by the structured settlement obligor and the annuity issuer as a consequence of the transfer. b. Any other liabilities or costs, including reasonable costs and attorney fees, arising from compliance by such parties with the order of the court or responsible administrative authorityor arising as a consequence of the transferee’s failure to comply with this chapter. 3. An annuity issuer and the structured settlement obligor shall not be required to divide any periodic payment between the payee and any transferee or assignee or between two ormore transferees or assignees. 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 nee or between two ormore transferees or assignees. 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 Acts, ch 85, §5, 8 Sat Dec 23 12:25:52 2023 Iowa Code 2024, Section 682.5 (15, 0)
Iowa Legal Code