(a) the amounts and due dates of the periodic payments to be made
under the structured settlement agreement. In the case of payments that
will be subject to periodic percentage increases, the amounts of future
payments may be disclosed by identifying the base payment amount, the
amount and timing of scheduled increases, and the manner in which
increases will be compounded;
(b) the amount of the premium payable to the annuity issuer;
(c) the nature and amount of any cost that may be deducted from any of
the periodic payments;
(d) where applicable, that any transfer of the periodic payments is
prohibited by the terms of the structured settlement and may otherwise
be prohibited or restricted under applicable law; and
(e) a statement that the claimant is advised to obtain independent
professional advice relating to the legal, tax and financial
implications of the settlement, including any adverse consequences and
that the defendant or defendant's legal representative may not refer any
advisor, attorney or firm for such purpose.
Structure New York Laws
Article 5 - Creation, Definition and Enforcement of Contractual Obligations
Title 17 - Structured Settlement Protection Act
5-1702 - Initial Disclosure of Structured Settlement Terms.
5-1703 - Required Disclosures to Payee.
5-1704 - Provisions Prohibited in Transfer Agreement.
5-1705 - Procedure for Approval of Transfers.
5-1706 - Approval of Transfers of Structured Settlement Payment Rights.
5-1707 - Effects of Transfer of Structured Settlement Payment Rights.
5-1708 - General Provisions; Construction.
5-1708-A - Waiver for Families of Victims of Terrorist Attacks.