A person shall not act as a transferee, attempt to acquire structured settlement payment rights through a transfer from a payee who resides in this State, or file a structured settlement transfer proceeding unless the person is registered with the Secretary to do business in this State as a structured settlement purchase company.

HISTORY: 2023 Act No. 22 (S.259), Section 9, eff January 1, 2024.

Editor's Note

2023 Act No. 22, Section 20, provides as follows:

"SECTION 20. SECTION 9 through SECTION 16 take effect on January 1, 2024. All other SECTIONS take effect on July 1, 2023, and apply to applications filed on or after the effective date."