Except as otherwise provided, a transfer order signed by a court of competent jurisdiction pursuant to this act constitutes a qualified order under 26 U.S.C. Section 5891. If a transferee to which the transfer order applies is not registered as a structured settlement purchase company pursuant to this act at the time the transfer order is signed, the transfer order does not constitute a qualified order under 26 U.S.C. Section 5891.
S.C. Code Ann. § 15-50-170
Transfer orders; applicability to federal law
Known as the Structured Settlement Protection Act
The act spans §§ 15-50-10–15-50-90 (18 sections).
2023 Act No. 22 (S.259), SECTION 17, eff July 1, 2023.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.