A. The provisions of the Structured Settlement Protection Act of 2001 may not be waived by any payee.
§ 3244.Waiver of Provisions - Disputes - Life-Contingent Payments - Liability
Chapter 41A: Structured Settlement Protection Act of 2001 · Not amended since adoption on record · Last verified August 3, 2026
In one sentenceBars payees from waiving the act's protections, forces disputes involving Oklahoma-resident payees under Oklahoma law with no confessed judgments, requires survival-verification procedures before transferring life-contingent payments, shields payees from penalties when a transfer falls through, and puts full compliance responsibility on the transferee.
Full Text of § 3244
B. Any transfer agreement entered into on or after the effective date of this act by a payee who resides in this state shall provide that disputes under such transfer agreement, including any claim that the payee has breached the agreement, shall be determined in and under the laws of this state. No such transfer agreement shall authorize the transferee or any other party to confess judgment or consent to entry of judgment against the payee.
C. No transfer of structured settlement payment rights shall extend to any payments that are life- contingent unless, prior to the date on which the payee signs the transfer agreement, the transferee has established and has agreed to maintain procedures reasonably satisfactory to the annuity issuer and the structured settlement obligor for
1. Periodically confirming the payee's survival; and
2. Giving the annuity issuer and the structured settlement obligor prompt written notice in the event of the payee's death.
D. No payee who proposes to make a transfer of structured settlement payment rights shall incur any penalty, forfeit any application fee or other payment, or otherwise incur any liability to the proposed transferee or any assignee based on any failure of such transfer to satisfy the conditions of this act.
E. Nothing contained in this act shall be construed to authorize any transfer of structured settlement payment rights in contravention of any law or to imply that any transfer under a transfer agreement entered into prior to the effective date of this act is valid or invalid.
F. Compliance with the requirements set forth in Section 3 of this act and fulfillment of the conditions set forth in Section 4 of this act shall be solely the responsibility of the transferee in any transfer of structured settlement payment rights, and neither the structured settlement obligor nor the annuity issuer shall bear any responsibility for, or any liability arising from, noncompliance with such requirements or failure to fulfill such conditions.
Amendment History
Added by Laws 2001, SB 545, c. 70, §7, eff. 11/1/2001.
Plain-English Summary
Section 3244 closes several loopholes. A payee can never waive the act's protections, no matter what a transfer agreement says. Any transfer agreement signed by an Oklahoma-resident payee must provide that disputes -- including claims the payee breached the agreement -- are decided under Oklahoma law, and it can't let the transferee confess judgment or consent to judgment against the payee.
If the payments being sold are life-contingent -- meaning they stop at the payee's death -- the transferee must first set up procedures, acceptable to the annuity issuer and obligor, for periodically confirming the payee is still alive and for promptly notifying them when the payee dies. A payee who proposes a transfer that ultimately fails to meet the act's conditions can't be penalized, can't forfeit fees, and can't be held liable to the transferee for that failure.
Nothing in the act authorizes a transfer that would otherwise be illegal, and it takes no position on whether transfers made before the act's effective date are valid. Compliance with the disclosure requirements and the approval conditions falls solely on the transferee; neither the obligor nor the annuity issuer bears any responsibility or liability if the transferee falls short.
Frequently Asked Questions
Can I agree to give up my rights under the Structured Settlement Protection Act?
No. Section 3244 says the act's provisions may not be waived by any payee, regardless of what the transfer agreement says.
What law governs a dispute if I live in Oklahoma and sell my payments?
Oklahoma law. The transfer agreement must provide that disputes, including claims that the payee breached the agreement, are determined under Oklahoma law, and it can't authorize a confessed judgment against the payee.
What if I'm selling payments that stop when I die?
The transferee first has to set up procedures, acceptable to the annuity issuer and obligor, for periodically confirming you're still alive and for giving prompt written notice of your death.
Am I penalized if my proposed transfer doesn't get approved?
No. A payee who proposes a transfer that fails to satisfy the act's conditions can't incur any penalty, forfeit any fee, or otherwise be held liable to the proposed transferee.
Who is responsible if the transferee doesn't follow the disclosure and approval rules?
The transferee alone. Section 3244 makes compliance solely the transferee's responsibility, and the structured settlement obligor and annuity issuer bear no liability for the transferee's noncompliance.
Source & verification. Section text is reproduced verbatim from
Title 12 of the Oklahoma Statutes, enacted by the Oklahoma Legislature.
Last verified August 3, 2026.
· Official source
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