Structured Settlement Guide For Maine

Below is local Maine information related to courts, and structured settlement topics. You may have to visit or phone call a local Maine courthouse when working with your structured settlement.

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Maine City Court Pages

Click to go to Site: Maine Court Pages
Click to go to Site: Maine Courthouses by Town
Click to go to Site: District Courts of ME


The following Maine cities have court information at above links:

• Portland
• Lewiston
• Bangor
• South Portland
• Auburn
• Biddeford
• Augusta
• Saco
• Westbrook
• Waterville
• Brunswick
• Sanford
  

Structured Settlement Maine State Laws

§2243. Transfer of structured settlement payment rights 1. Application. This section applies to any transfer of structured settlement payment rights under a transfer agreement entered into on or after the effective date of this section. This section may not be construed to imply that any transfer under a transfer agreement reached prior to the effective date of this section is effective. [ 1999, c. 268, §2 (NEW) .] 2. Requirements for transfer. 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 any payment directly or indirectly to any transferee of structured settlement payment rights unless the transfer has been authorized in advance in a final order of a court of competent jurisdiction or a responsible administrative authority, based on express findings by that court or responsible administrative authority that: A. The transfer complies with the requirements of this chapter and does not contravene other applicable law; [1999, c. 268, §2 (NEW).] B. Not less than 10 days prior to the date on which the payee first incurred any obligation with respect to the transfer, the transferee provided to the payee a disclosure statement in bold type, no smaller than 14 points, setting forth: (1) The amounts and due dates of the structured settlement payments to be transferred; (2) The aggregate amount of those payments; (3) The discounted present value of those payments together with the discount rate used in determining that discounted present value; (4) The gross amount payable to the payee in exchange for the payments; (5) An itemized listing of all brokers' commissions, service charges, application fees, processing fees, closing costs, filing fees, administrative fees, legal fees, notary fees and other commissions, fees, costs, expenses and charges payable by the payee or deductible from the gross amount otherwise payable to the payee; (6) The net amount payable to the payee after deduction of all commissions, fees, costs, expenses and charges described in subparagraph (5); (7) The quotient, expressed as a percentage, obtained by dividing the net payment amount by the discounted present value of the payments; and (8) The amount of any penalty and the aggregate amount of any liquidated damages, inclusive of penalties, payable by the payee in the event of any breach of the transfer agreement by the payee; [1999, c. 268, §2 (NEW).]

* See more and actual structured settlement statutes at Maine State government law site pages

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