This act shall apply to any transfer of structured settlement payment rights under a transfer agreement entered into on or after the thirtieth day after the date of enactment of this act; provided that nothing contained herein shall imply that any transfer under a transfer agreement reached prior to such date is either effective or ineffective.
§ 3245.Application of Act
Chapter 41A: Structured Settlement Protection Act of 2001 · Not amended since adoption on record · Last verified August 3, 2026
In one sentenceFixes the act's start date at transfer agreements signed on or after the thirtieth day after enactment, while declining to say whether transfer agreements reached earlier are effective or ineffective.
Full Text of § 3245
Amendment History
Added by Laws 2001, SB 545, c. 70, §8, eff. 11/1/2001.
Plain-English Summary
Section 3245 sets the boundary line for when the Structured Settlement Protection Act applies. It covers any transfer agreement entered into on or after the thirtieth day after the act's enactment. For agreements reached before that date, the act stays silent on whether they're valid -- it neither validates nor invalidates them.
Frequently Asked Questions
Does this act apply to a transfer agreement I signed years before it passed?
No. The act applies to transfer agreements entered into on or after the thirtieth day after its enactment, and it takes no position on whether earlier agreements are effective or ineffective.
When exactly did the act start applying to new transfers?
To transfer agreements entered into on or after the thirtieth day following the date the act was enacted in 2001.
Does the act say old transfer agreements are invalid?
No. Section 3245 expressly says nothing in it implies that a transfer under an earlier agreement is either effective or ineffective.
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
Also known as: structured settlement act effective date oklahomadoes structured settlement law apply retroactively12 O.S. § 3245transfer agreement before 2001 oklahoma