Structured Settlement Transferee Registration
From Consumer Protection Division
200 Saint Paul Place, 16th Floor, Baltimore, Maryland 21202
(410) 576-6590 / Email: sstadministrator@oag.state.md.us
Effective October 1, 2016, anyone filing a petition for a transfer of structured settlement payment rights must first be registered with the Office of the Attorney General as a structured settlement transferee. See 2016 Laws of Maryland, Chapter 722.
A structured settlement is “an arrangement for periodic payment of damages for personal injury established by settlement or judgment in resolution of a tort claim.” Md. Code Ann., Cts. & Jud. Proc. sec. 5-1101. In Maryland, a person or company seeking to acquire structured settlement payment rights, a “structured settlement transferee,” must petition a Maryland court for authorization of the transfer.
To review Maryland’s structured settlement transfer law, please see: http://mgaleg.maryland.gov/2016RS/chapters_noln/Ch_722_sb0734T.pdf
Applicants seeking to register as a structured settlement transferee must use the following forms. Additional instructions regarding the application process can be found on the first page of the Application form.
The fee for initial registration as a structured settlement transferee is $2,000.
Upon registration with the Office of the Attorney General, structured settlement transferees must fulfill the bonding requirement set forth in Maryland law. See Md. Code Ann., Cts. & Jud. Proc. sec. 5-1109. Information about fulfillment of the bonding requirement will be available before October 1, 2016.
Consumers who have questions or concerns about structured settlement transfers may contact the Office of the Attorney General at the phone number and email address above.
