1. (a) A payee who proposes to make a transfer of structured settlement payment rights does not:

   1. (1) incur a penalty;
   2. (2) forfeit an application fee or other payment; or

   3. (3) otherwise incur a liability to the proposed transferee;

      if the transfer is not approved by a court under section 7 of this chapter.

2. (b) A provision of this chapter may not be waived.

3. (c) This chapter does not:

   1. (1) authorize a transfer of structured settlement payment rights in contravention of applicable law; or
   2. (2) give effect to a transfer of structured settlement payment rights that is void under applicable law.

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