FL S0458

Revises the process for court approval of structured settlement payment transfers, requiring the transferee to file applications at least 20 days before the hearing and provide notice to all interested parties with specific documents and information

Moves the deadline for written responses to transfer applications from 15 days after service to no later than 5 days before the scheduled hearing

Requires the payee to appear in person at the hearing unless the court determines good cause to excuse their appearance

Specifies that the transferee is solely responsible for compliance with transfer requirements and that the structured settlement obligor and annuity issuer are released from liability once a court order is issued, even if other parties fail to comply

Removes the requirement that transferees disclose the percentage of discounted present value and instead requires disclosure of the effective annual interest rate

Expands application requirements to include the payee's age and number of dependents, explanation of reasons for the transfer, and summaries of any previous or denied transfer applications within specified timeframes