Wash. Rev. Code » Title 19 · Chapter 19.205

Wash. Rev. Code § 19.205.020

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Not less than three 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 no smaller than fourteen 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;
(5) An itemized listing of all applicable transfer expenses, other than attorneys' fees and related disbursements payable 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; and
(8) A statement that the payee has the right to cancel the transfer agreement, without penalty or further obligation, not later than the third business day after the date the agreement is signed by the payee.
[ 2001 c 178 s 3.]
Notes of Decisions
Cited in 4 cases, 2006–2014 · leading case: Symetra Life Insurance v. Rapid Settlements, Ltd.
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Symetra Life Insurance v. Rapid Settlements, Ltd. (2014) ca5 · cites it 2× “003(1)-(6); Wash. Rev. Code § 19.205.020 (1)-(6); RSL Funding, 384 S.”
Rapid Settlements Ltd's v. Symetra Assigned Benefits Service Co. (2006) washctapp · cites it 2× “RCW 19.205.020(1)-(3). The disclosure statement provided by Rapid to Dean lists the $40,000 payment as the only payment being transferred.”
Rapid Settlements, Ltd. v. Symetra Life Insurance (2006) washctapp “060(6), which places the sole responsibility and liability for noncompliance with the provisions of RCW 19.205.020 and .030 upon the transferee.”
Dean v. Symetra Assigned Benefits Service Co. (2006) washctapp · cites it 2× “” RCW 19.205.020(7). The disclosure statements here list that amount as $3,500.”
— Wash. Rev. Code § 19.205.020(1) — 1 case
Rapid Settlements Ltd's v. Symetra Assigned Benefits Service Co. (2006) washctapp “RCW 19.205.020(1)-(3). The disclosure statement provided by Rapid to Dean lists the $40,000 payment as the only payment being transferred.”
— Wash. Rev. Code § 19.205.020(7) — 2 cases
Rapid Settlements Ltd's v. Symetra Assigned Benefits Service Co. (2006) washctapp “RCW 19.205.020(1)-(3). The disclosure statement provided by Rapid to Dean lists the $40,000 payment as the only payment being transferred.”
Dean v. Symetra Assigned Benefits Service Co. (2006) washctapp “” RCW 19.205.020(7). The disclosure statements here list that amount as $3,500.”
— Wash. Rev. Code § 19.205.020(l) — 1 case
Dean v. Symetra Assigned Benefits Service Co. (2006) washctapp “” RCW 19.205.020(7). The disclosure statements here list that amount as $3,500.”
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