33-20-1410. Contingent payment conditions. A transfer of a structured settlement payment right may not extend to a payment that is contingent upon the life of a payee unless prior to the date on which the payee signs the transfer agreement the transferee has established and agreed to maintain procedures reasonably satisfactory to the annuity issuer and the structured settlement obligor for:
(1) periodically confirming the payee's survival; and
(2) giving the annuity issuer and the structured settlement obligor prompt written notice upon the payee's death.
History: En. Sec. 10, Ch. 351, L. 2005.
Structure Montana Code Annotated
Title 33. Insurance and Insurance Companies
Part 14. Structured Settlement Protection
33-20-1403. Disclosure to payee
33-20-1404. Transfer of structured settlement payment right -- conditions
33-20-1405. Obligations after transfer
33-20-1406. Additional transfers
33-20-1407. Jurisdiction -- notice
33-20-1408. Waiver not allowed
33-20-1409. Disputes -- entry of judgment
33-20-1410. Contingent payment conditions