Amendment AA1-AB129

LRBa0363/1

PJH:jld:jd

2015 - 2016 LEGISLATURE

ASSEMBLY AMENDMENT 1, TO ASSEMBLY BILL 129

April 28, 2015 - Offered by Representatives J. Ott and Wachs.

AB129-AA1,1,1 At the locations indicated, amend the bill as follows:

AB129-AA1,1,3 1. Page 4, line 5: delete "settlement." and substitute "settlement if any of the following applies:".

AB129-AA1,1,4 2. Page 4, line 5: after that line insert:

AB129-AA1,1,6 "(a) The payee is domiciled in, or the domicile or principal place of business of the structured settlement obligor or the annuity issuer is located in, this state.

AB129-AA1,1,7 (b) The structured settlement agreement was approved by a court in this state.

AB129-AA1,1,9 (c) The structured settlement agreement is expressly governed by the laws of the state.".

AB129-AA1,1,11 3. Page 6, line 14: delete "agreement and that the failure to obtain" and substitute "agreement.".

AB129-AA1,1,12 4. Page 6, line 15: delete that line.

AB129-AA1,2,1 5. Page 7, line 3: delete "such advice".

AB129-AA1,2,3 6. Page 7, line 3: after "writing" insert "the opportunity to seek and receive such advice".

AB129-AA1,2,4 7. Page 7, line 16: delete "in this state".

AB129-AA1,2,5 8. Page 7, line 20: delete lines 20 to 22.

AB129-AA1,2,6 9. Page 8, line 14: delete lines 14 to 16.

AB129-AA1,2,11 10. Page 8, line 23: delete "resides" and substitute "is domiciled at the time the transfer agreement is signed by the payee or, if the payee is not domiciled in this state, then in the county in this state in which the structured settlement obligor or the annuity issuer maintains its principal place of business, or in any court that approved the structured settlement agreement".

AB129-AA1,2,12 11. Page 9, line 24: delete "certified mail or".

AB129-AA1,2,13 (End)