Code of the District of Columbia

§ 28A–107. General provisions; construction.

(a) The provisions of this chapter may not be waived by a payee; provided, that this subsection shall not be construed to prohibit a payee from waiving the right to seek and receive independent professional advice, consistent with § 28A-105(a)(3).

(b) Any transfer agreement entered into on or after March 13, 2019 by a payee domiciled in the District shall provide that disputes under such transfer agreement, including any claim that the payee has breached the agreement, shall be determined in and under the laws of the District.

(c) No such transfer agreement shall authorize the transferee or any other party to confess judgment, or consent to entry of judgment, against the payee.

(d) No transfer shall extend to any payments that are life-contingent unless, before the date on which the payee signs the transfer agreement, the transferee has established and has agreed to maintain procedures reasonably satisfactory to the annuity issuer and the structured settlement obligor for:

(1) Periodically confirming the payee's survival; and

(2) Giving the annuity issuer and the structured settlement obligor prompt written notice in the event of the payee's death.

(e) If a payee cancels a transfer agreement, or if the transfer agreement otherwise terminates, after an application for approval of a transfer has been filed and before it has been granted or denied, the transferee shall promptly request dismissal of the application.

(f) No payee who proposes to make a transfer shall incur any penalty, forfeit any application fee or other payment, or otherwise incur any liability to the proposed transferee based on a failure of the transfer to satisfy the requirements of this chapter.

(g) Nothing in this chapter shall be construed to authorize any transfer in contravention of any law.

(h) The provisions of this chapter shall not be applicable to transfers of workers' compensation claims, awards, benefits, settlements or payments.

(i) Compliance with the requirements set forth in §§ 28A-103, 28A-104, and 28A-105 shall be solely the responsibility of the transferee in any transfer, and neither the structured settlement obligor nor the annuity issuer shall bear any responsibility for, or any liability arising from, noncompliance with such requirements.