An Indiana court of competent jurisdiction may approve a transfer of structured settlement payment rights only in a final order that is based on the express findings of the court. The express findings must include all of the following:

1. (1) The consideration that the payee will receive for the transfer reasonably reflects the present fair market value of the future periodic payments under the structured settlement agreement.
2. (2) The transfer is in the best interest of the payee.
3. (3) The transfer will not materially impair the payee's ability to discharge the payee's obligations to the payee's dependents.
4. (4) If the transferee is the applicant, the transferee has provided to the payee a disclosure statement in accordance with section 6 of this chapter.

As added by P.L.219-2001, SEC.6.