New York Laws
Title 17 - Structured Settlement Protection Act
5-1707 - Effects of Transfer of Structured Settlement Payment Rights.

(a) The structured settlement obligor and the annuity issuer shall, as
to all parties except the transferee, be discharged and released from
any and all liability for the transferred payments;
(b) The transferee shall be liable to the structured settlement
obligor and the annuity issuer:
(i) if the transfer contravenes the terms of the structured
settlement, for any taxes incurred by such parties as a consequence of
the transfer; and
(ii) for any other liabilities or costs, including reasonable costs
and attorneys' fees, arising from compliance by such parties with the
order of the court or arising as a consequence of the transferee's
failure to comply with this title;
(c) Neither the annuity issuer nor the structured settlement obligor
may be required to divide any periodic payment between the payee and any
transferee or assignee or between two or more transferees or assignees;
and
(d) Any further transfer of structured settlement payment rights by
the payee may be made only after compliance with all of the requirements
of this title.