{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/59.1-476.1.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/59.1-476.1.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/59.1-476.1.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/59.1-476.1.html"}],"law_id":373189,"edition_id":2,"section_id":373189,"structure_id":53116,"section_number":"59.1-476.1","catch_line":"Effects of transfer of structured settlement payment rights","history":"2001, c. 537; 2016, cc. 273, 739.","full_text":"Following issuance of a court order approving a transfer of structured settlement payment rights under this chapter:\n\n1\n\nThe structured settlement obligor and the annuity issuer may rely on the court order in redirecting periodic payments to an assignee or transferee in accordance with the order and shall, as to all parties except the transferee or an assignee designated by the transferee, be discharged and released from any and all liability for the redirected payments, and such discharge and release shall not be affected by the failure of any party to the transfer to comply with this chapter or with the order of the court approving the transfer;\n\n2\n\nThe transferee shall be liable to the structured settlement obligor and the annuity issuer:\n\t\t\ta. If the transfer contravenes the terms of the structured settlement, for any taxes incurred by such parties as a consequence of the transfer; and\n\n\t\t\tb. For any other liabilities or costs, including reasonable costs and attorney fees, arising from compliance by the structured settlement obligor or annuity issuer with the order of the court or from the failure of any party to the transfer to comply with this chapter;\n\n3\n\nNeither the annuity issuer nor the structured settlement obligor may be required to divide any periodic payment between the payee and any transferee or assignee or between two or more transferees or assignees; and\n\n4\n\nAny further transfer of structured settlement payment rights by the payee may be made only after compliance with all of the requirements of this chapter.\n\n","order_by":null,"text":{"0":{"id":1392255,"text":"Following issuance of a court order approving a transfer of structured settlement payment rights under this chapter:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":1392256,"text":"The structured settlement obligor and the annuity issuer may rely on the court order in redirecting periodic payments to an assignee or transferee in accordance with the order and shall, as to all parties except the transferee or an assignee designated by the transferee, be discharged and released from any and all liability for the redirected payments, and such discharge and release shall not be affected by the failure of any party to the transfer to comply with this chapter or with the order of the court approving the transfer;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":1392257,"text":"The transferee shall be liable to the structured settlement obligor and the annuity issuer:\n\t\t\ta. If the transfer contravenes the terms of the structured settlement, for any taxes incurred by such parties as a consequence of the transfer; and\t\t\tb. For any other liabilities or costs, including reasonable costs and attorney fees, arising from compliance by the structured settlement obligor or annuity issuer with the order of the court or from the failure of any party to the transfer to comply with this chapter;","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":1392258,"text":"Neither the annuity issuer nor the structured settlement obligor may be required to divide any periodic payment between the payee and any transferee or assignee or between two or more transferees or assignees; and","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":1392259,"text":"Any further transfer of structured settlement payment rights by the payee may be made only after compliance with all of the requirements of this chapter.","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3"}},"ancestry":[{"id":53116,"edition_id":2,"name":"Structured Settlement Protection Act","identifier":"41","label":"chapter","depth":2,"order_by":77,"parent_id":53010,"metadata":{"child_laws":6,"child_structures":0},"date_created":"2026-08-02 03:11:02","date_modified":"2026-08-02 12:36:34","permalink":{"id":1488773,"object_type":"structure","relational_id":53116,"identifier":"41","token":"59.1\/41","url":"\/59.1\/41\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53010,"edition_id":2,"name":"Trade and Commerce","identifier":"59.1","label":"title","depth":1,"order_by":127,"parent_id":null,"metadata":{"child_laws":861,"child_structures":141},"date_created":"2026-08-02 03:09:52","date_modified":"2026-08-02 12:36:19","permalink":{"id":1486523,"object_type":"structure","relational_id":53010,"identifier":"59.1","token":"59.1","url":"\/59.1\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":373188,"structure_id":53116,"section_number":"59.1-475","catch_line":"Definitions","url":"\/59.1-475\/","token":"59.1\/41\/59.1-475","metadata":false},{"id":373187,"structure_id":53116,"section_number":"59.1-475.1","catch_line":"Required disclosures to payee","url":"\/59.1-475.1\/","token":"59.1\/41\/59.1-475.1","metadata":false},{"id":373190,"structure_id":53116,"section_number":"59.1-476","catch_line":"Approval of transfers of structured settlement payment rights","url":"\/59.1-476\/","token":"59.1\/41\/59.1-476","metadata":false},{"id":373189,"structure_id":53116,"section_number":"59.1-476.1","catch_line":"Effects of transfer of structured settlement payment rights","url":"\/59.1-476.1\/","token":"59.1\/41\/59.1-476.1","metadata":false},{"id":373192,"structure_id":53116,"section_number":"59.1-477","catch_line":"Procedure for approval of transfers","url":"\/59.1-477\/","token":"59.1\/41\/59.1-477","metadata":false},{"id":373191,"structure_id":53116,"section_number":"59.1-477.1","catch_line":"General provisions, construction","url":"\/59.1-477.1\/","token":"59.1\/41\/59.1-477.1","metadata":false}],"previous_section":{"id":373190,"structure_id":53116,"section_number":"59.1-476","catch_line":"Approval of transfers of structured settlement payment rights","url":"\/59.1-476\/","token":"59.1\/41\/59.1-476","metadata":false},"next_section":{"id":373192,"structure_id":53116,"section_number":"59.1-477","catch_line":"Procedure for approval of transfers","url":"\/59.1-477\/","token":"59.1\/41\/59.1-477","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/59.1-476.1\/","history_text":"

This law was first created in 2001. The record of its establishment is cataloged in chapter 537<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2016, chapters 273<\/a> and 739<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":1488787,"object_type":"law","relational_id":373189,"identifier":"59.1-476.1","token":"59.1\/41\/59.1-476.1","url":"\/59.1-476.1\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/59.1-476.1\/","token":"59.1\/41\/59.1-476.1","dublin_core":{"Title":"Effects of transfer of structured settlement payment rights","Type":"Text","Format":"text\/html","Identifier":"\u00a7 59.1-476.1","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Following issuance of a court order<\/span> approving a transfer<\/span> of structured settlement payment rights<\/span> under this chapter:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The structured settlement obligor and the annuity issuer<\/span> may rely on the court order<\/span> in redirecting periodic payments<\/span> to an assignee<\/span> or transferee<\/span> in accordance with the order and shall, as to all parties except the transferee<\/span> or an assignee<\/span> designated by the transferee<\/span>, be discharged and released from any and all liability for the redirected payments, and such discharge and release shall not be affected by the failure of any party<\/span> to the transfer<\/span> to comply with this chapter or with the order of the court approving the transfer<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The transferee<\/span> shall be liable to the structured settlement obligor and the annuity issuer<\/span>:\n\t\t\ta. If the transfer<\/span> contravenes the terms of the structured settlement, for any taxes incurred by such parties as a consequence of the transfer<\/span>; and

\t\t\tb. For any other liabilities or costs, including reasonable costs and attorney fees, arising from compliance by the structured settlement obligor or annuity issuer<\/span> with the order of the court or from the failure of any party<\/span> to the transfer<\/span> to comply with this chapter; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Neither the annuity issuer<\/span> nor the structured settlement obligor may be required to divide any periodic payment between the payee<\/span> and any transferee<\/span> or assignee<\/span> or between two or more transferees<\/span> or assignees<\/span>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Any further transfer<\/span> of structured settlement payment rights<\/span> by the payee<\/span> may be made only after compliance with all of the requirements of this chapter. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nEFFECTS OF TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS (\u00a7 59.1-476.1)\n\nFollowing issuance of a court order approving a transfer of structured\nsettlement payment rights under this chapter:\n\n1. The structured settlement obligor and the annuity issuer may rely on the\ncourt order in redirecting periodic payments to an assignee or transferee in\naccordance with the order and shall, as to all parties except the transferee or\nan assignee designated by the transferee, be discharged and released from any\nand all liability for the redirected payments, and such discharge and release\nshall not be affected by the failure of any party to the transfer to comply with\nthis chapter or with the order of the court approving the transfer;\n\n2. The transferee shall be liable to the structured settlement obligor and the\nannuity issuer:\n\t\t\ta. If the transfer contravenes the terms of the structured settlement, for\nany taxes incurred by such parties as a consequence of the transfer; and\t\t\tb.\nFor any other liabilities or costs, including reasonable costs and attorney\nfees, arising from compliance by the structured settlement obligor or annuity\nissuer with the order of the court or from the failure of any party to the\ntransfer to comply with this chapter;\n\n3. Neither the annuity issuer nor the structured settlement obligor may be\nrequired to divide any periodic payment between the payee and any transferee or\nassignee or between two or more transferees or assignees; and\n\n4. Any further transfer of structured settlement payment rights by the payee may\nbe made only after compliance with all of the requirements of this chapter.\n\nHISTORY: 2001, c. 537; 2016, cc. 273, 739.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}