State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_1 > GS_1-543_15

§1‑543.15.  No waiver; penalties.

(a)        The provisions ofthis Article may not be waived.

(b)        Any payee who hastransferred structured settlement payment rights to a transferee withoutcomplying with this Article may bring an action against the transferee torecover actual monetary loss or for damages up to five thousand dollars($5,000) for the violation by the transferee, or bring actions for both. Thepayee is entitled to attorneys' fees and costs incurred to enforce thisArticle. In addition, all unpaid structured settlement payment rightstransferred in violation of this Article by any transferee shall be reconveyedto the payee.

(c)        No payee whoproposes to make a transfer of structured settlement payment rights shall incurany penalty, forfeit any application fee or other payment, or otherwise incurany liability to the proposed transferee based on any failure of such transferto satisfy the conditions of this Article. (1999‑367, s. 1.)