(a) any provision that waives the payee's right to sue under any law,
or where the payee agrees not to sue, or which waives jurisdiction or
standing to sue under the transfer agreement;
(b) any provision that requires the payee to indemnify and hold
harmless the transferee, or to pay the transferee's costs of defense, in
any claim or action brought by the payee on or the payee's behalf
contesting the transfer for any reason;
(c) any provision that requires the payee to pay the transferee's
attorney's fees or costs if the transfer contemplated by the transfer
agreement is not completed; and
(d) any provision that requires the payee to pay any tax liability
arising under federal tax laws, other than the seller's own tax
liability, if any, that results from the transfer.
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.