Structured settlement definition
Examples of Structured settlement in a sentence
Structured settlement obligor" means the party that has the continuing periodic payment obligation to the payee under a structured settlement agreement or a qualified assignment agreement.
Structured settlement agreement" means the agreement, judgment, stipulation, or release embodying the terms of a structured settlement, including the rights of the payee to receive periodic payments.
Structured settlement" means an arrangement for periodic payment of damages for personal injuries established by settlement or judgment in resolution of a tort claim or for periodic payments in settlement of a workers' compensation claim.
Structured settlement agreements, such as those subject to Articles 50-A and 50- B of the Civil Practice Laws and Rules (“CPLR”), may need to comply with other state and federal laws.
LEGISLATIVE INTENT; PUBLIC POLICY Structured settlement agreements, which provide for payments to a person over a period of time, are often used in the settlement of actions such as personal injury or medical claims and serve a number of valid purposes, including protection of persons from economic victimization and assuring a person’s ability to provide for his or her future needs and obligations.