32-03.4-05. Procedure for approval of transfers

32-03.4-05. Procedure for approval of transfers

1. An application for approval of a transfer of structured settlement payment rights under

this chapter must be made by the transferee and may be brought in the county in

which the payee resides, in the county in which the structured settlement obligor or the

annuity issuer maintains its principal place of business, or in any court that approved

the structured settlement agreement.

2. At least twenty days before the scheduled hearing on any application for approval of a

transfer of structured settlement payment rights under section 32-03.4-03, the

transferee shall file with the court and serve on all interested parties a notice of the

proposed transfer and the application for its authorization. The notice must include:

a. A copy of the transferee's application;

b. A copy of the transfer agreement;

c. A copy of the disclosure statement required under section 32-03.4-02;

d. A list of each of the payee's dependents and each dependent's age;

e. 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 by participating in the hearing;

f. Notification of the time and place of the hearing; and

g. Notification of the manner in which and the time by which written responses to the

application must be filed in order to be considered by the court, which may be not

less than fifteen days after service of the transferee's notice.