Tex. Civ. Prac. & Rem. Code § 141.004 · Chapter 141. STRUCTURED SETTLEMENT PROTECTION ACT
APPROVAL OF TRANSFERS OF STRUCTURED SETTLEMENT PAYMENT RIGHTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
No direct or indirect transfer of structured settlement payment rights shall be effective and no structured settlement obligor or annuity issuer shall be required to make any payment directly or indirectly to any transferee of structured settlement payment rights unless the transfer has been approved in advance in a final court order based on express findings by the court that:
(1) the transfer is in the best interest of the payee, taking into account the welfare and support of the payee's dependents;
(2) the payee has been advised in writing by the transferee to seek independent professional advice regarding the transfer and has either received the advice or knowingly waived the advice in writing; and
(3) the transfer does not contravene any applicable statute or an order of any court or other governmental authority.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 96, Sec. 1, eff. Sept. 1, 2001.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/CP/htm/CP.141.htm
- Text hash
- sha256 28ba860e60714d7a96890e6b30d03d593626d4e4b9bff6f53d660c488b2d0528
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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Cited by 2 provisions
Provisions in this library whose text cites Tex. Civ. Prac. & Rem. Code § 141.004. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.