transfer agreement 10136(b) What it States
10136(b) What it States
(b) Ten or more days before the payee executes a transfer agreement, the transferee shall provide the payee with a separate written disclosure statement, accurately completed with the information that applies to the transfer agreement, in substantially the following form, in at least 12-point type unless otherwise indicated (bracketed instructions shall not appear in the form):
(We published this form in another post for your convenience, in addition to another form, the “effective equivalent interest rate”, discussed later.)
At least ten (10) days before the original holder of the structured settlement signs any kind of transfer agreement, the company wanting to initiate the transfer MUST give the original holder of the structured settlement a “disclosure statement” that matches the same disclosure statement the law provides for the company wanting to initiate the transfer.
There really is a “boiler-plate” form readily available for the transfer company provided by the state of California legislature, that the transfer company is expressly instructed to use.
If you have ANY concerns over the form, or the “disclosure” statement you received, contact an independent professional adviser immediately. Waste no time, because time is of the essence in cases like these.