Sec. 23. (a) With the consent of the claimant, a political subdivision may compromise or settle a claim or suit by
means of a structured settlement under this section.

(b) A political subdivision may discharge settlement of a claim or suit brought under this chapter by:

(1) an agreement requiring periodic payments by the political subdivision over a specified number of years;

(2) the purchase of an annuity;

(3) by making a "qualified assignment" of the liability of the political subdivision as defined by the provisions of
26 U.S.C. 130(c);

(4) payment in a lump sum; or

(5) any combination of subdivisions (1) through (4).

(c) The present value of a structured settlement shall not exceed the statutory limits set forth in section 4 of this
chapter; however, the periodic or annuity payments may exceed these statutory limits. The present value of any
periodic payments may be determined by discounting the periodic payments by the same percentage as that
found in Moody's Corporate Bond Yield Average Monthly Average Corporates, as published by Moody's
Investors Service, Incorporated.

34-30-2-116.8 Transfers of structured settlement payment rights

Sec. 116.8. IC 34-50-2-10 .(Concerning transfers of structured settlement payment rights).

34-50-2-1 "Interested party" defined

Sec. 1. As used in this chapter, "interested party" refers to:

(1) the payee;

(2) the annuity issuer;

(3) the structured settlement agreement obligor;

(4) the payee's counsel who assisted in the establishment of the structured settlement;

(5) a dependent of the payee; or

(6) a family member or relative who is acting as a caregiver for the payee.

34-50-2-2 "Structured settlement" defined

Sec. 2. As used in this chapter, "structured settlement" means periodic payments of damages established by a
settlement or a court judgment in resolution of a tort claim for personal injury.

34-50-2-3 "Transfer" defined Sec. 3. As used in this chapter, "transfer" means a:

(1) sale;

(2) assignment;

(3) pledge;

(4) hypothecation; or

(5) any other form of alienation or encumbrance;

of structured settlement payment rights made by a payee for consideration.

34-50-2-4 "Transferee" defined

Sec. 4. As used in this chapter, "transferee" means a party acquiring or proposing to acquire structured
settlement payment rights through a transfer agreement.

34-50-2-5 Court approval of transfers required

Sec. 5. A direct or indirect transfer of structured settlement payment rights is not effective, and a structured
settlement obligor or annuity issuer is not required to make a payment directly or indirectly to a transferee,
unless an Indiana court of competent jurisdiction has approved the transfer in a final order in accordance
with sections 7 and 8 of this chapter.

34-50-2-6 Disclosure statements

Sec. 6. Not less than ten (10) days before the date on which a payee becomes obligated under a transfer
agreement, the transferee shall provide to the payee and other interested parties a disclosure statement, in
boldface type of not less than fourteen (14) points in size, that includes the following:

(1) The amounts and due dates of the structured settlement payments to be transferred under the transfer
agreement.

(2) The aggregate amount of the payments disclosed under subdivision (1).

(3) An estimate of the present fair market value of the future periodic payments under the structured
settlement agreement.

(4) The gross amount payable to the payee as consideration for the transfer of the structured settlement
payments disclosed under subdivision (1).

(5) An itemized list of all:
     (A) commissions;
     (B) fees;
     (C) costs;
     (D) expenses; and
     (E) charges;
  payable by the payee or deductible from the gross amount payable to the payee, as disclosed under
subdivision (4).

(6) The net amount payable to the payee after any deduction is made from the gross amount payable to the
payee, as described in subdivision (5).

(7) The quotient, expressed as a percentage, obtained by dividing the net amount payable to the payee, as
disclosed under subdivision (6), by the estimate of the present fair market value of the future periodic
payments, as disclosed under subdivision (3).

(8) The amount of any penalty and the aggregate amount of any liquidated damages, including penalties,
payable by the payee in the event of a breach of the transfer agreement by the payee.

I.C. 34-50-2-9

IN ST 34-50-2-9

34-50-2-7 Final orders; findings

Sec. 7. An Indiana court of competent jurisdiction may approve a transfer of structured settlement payment rights
only in a final order that is based on the express findings of the court. The express findings must include all of the
following:

(1) The consideration that the payee will receive for the transfer reasonably reflects the present fair market value
of the future periodic payments under the structured settlement agreement.

(2) The transfer is in the best interest of the payee.

(3) The transfer will not materially impair the payee's ability to discharge the payee's obligations to the payee's
dependents.

(4) If the transferee is the applicant, the transferee has provided to the payee a disclosure statement in
accordance with section 6 of this chapter.

34-50-2-8 Applications for approval of transfers

Sec. 8. (a) An application under this chapter for approval of a transfer of structured settlement payment rights
must be filed in:

(1) the Indiana court in which the underlying tort action was pending; or

(2) the court of general jurisdiction in the Indiana county in which the payee resides.

(b) The following apply to an application filed under subsection (a):

(1) Upon filing of the application, the court shall set a date and time for a hearing on the application not earlier than
twenty (20) days after the application is filed and shall notify the applicant of the date, time, and place of the hearing.
The court shall give precedence to a hearing set under this section in accordance with Indiana Trial Rule 40.

(2) The applicant shall file with the court and shall serve on:

  (A) all interested parties;

  (B) the annuity issuer; and

  (C) the structured settlement obligor;

in the manner prescribed in the rules of civil procedure for the service of process, a notice of the proposed transfer.

(3) The notice required under subdivision (2) shall include:

  (A) a copy of the application;

  (B) a copy of the proposed transfer agreement, including the transferee's:

     (i) name;

     (ii) address; and

     (iii) taxpayer identification number;

(C) a copy of the disclosure statement provided by the transferee under section 6 of this chapter whenever the
application is filed by a person other than the payee;

(D) notification of the date, time, and place of the hearing on the application; and

(E) notification that an interested party may support, oppose, or otherwise respond to the application, either in
person or by counsel, by:

     (i) submitting to the court a written response containing the interested party's support of, opposition to, or
comments on the application; or

     (ii) participating in the hearing.

(4) At the conclusion of the hearing on an application filed under subsection (a), the court may enter an order:

  (A) granting approval with or without modification; or

  (B) denying approval; of the transfer. If the court grants approval of the transfer, the court shall include in the
order all of the express findings required under section 7 of this chapter. If the court denies the approval of the
transfer, the court shall include in the order the reasons for the denial.

(5) An order of the court made under subdivision (4) is a final and appealable order.

34-50-2-9 Effect of disapproval of transfers; waiver prohibited; unlawful transfers

Sec. 9. (a) A payee who proposes to make a transfer of structured settlement payment rights does not:

(1) incur a penalty;

(2) forfeit an application fee or other payment; or

(3) otherwise incur a liability to the proposed transferee;

if the transfer is not approved by a court under section 7 of this chapter.

(b) A provision of this chapter may not be waived.

(c) This chapter does not:

(1) authorize a transfer of structured settlement payment rights in contravention of applicable law; or

(2) give effect to a transfer of structured settlement payment rights that is void under applicable law.