The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
005
:
TRANSFERS OF STRUCTURED SETTLEMENTS
(Cite as: 9 V.S.A. § 2480cc)
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§ 2480cc. Required disclosures to payee
Not less than 10 days prior to the date on which a payee signs a transfer agreement,
the transferee shall provide to the payee a separate disclosure statement in bold
type in a size 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 such payments;
(3) the discounted present value of the payments to be transferred, which shall be identified
as the “calculation of current value of the transferred structured settlement payments
under federal standards for valuing annuities,” and the amount of the applicable federal
rate used in calculating such discounted present value;
(4) the gross advance amount and the annual discount rate, compounded monthly, used to
determine such figure;
(5) an itemized listing of all applicable transfer expenses, other than attorney’s fees
and related disbursements payable by the payee in connection with the transferee’s
application for approval of the transfer, and the transferee’s best estimate of the
amount of any such fees and disbursements;
(6) the net advance amount;
(7) the amount of any penalties or liquidated damages payable by the payee in the event
of any breach of the transfer agreement by the payee, as well as a description of
any other financial penalties the payee might incur with the transferee as a result
of such a breach; and
(8) a statement that the payee has the right to cancel the transfer agreement, without
penalty or further obligation, at any time before the date on which a court enters
a final order approving the transfer agreement. (Added 2011, No. 168 (Adj. Sess.), § 1.)