The proposed bill amends the Structured Settlement Protection Act to require the appointment of a guardian ad litem in all structured settlement transfers. This guardian will be responsible for conducting an independent assessment to determine whether the proposed transfer is in the best interests of the payee. The guardian ad litem will consider various factors, including the payee's preferences, financial obligations, and the potential impact of the transfer on the payee's eligibility for public benefits.

Additionally, the bill outlines the procedural requirements for the transfer application, including the need for the transferee to provide notice to interested parties and the court. The guardian ad litem is also required to file interim and final reports with the court, detailing their findings and recommendations regarding the transfer. All costs associated with the guardian ad litem will be borne by the transferee, as determined by the court.

Statutes affected:
introduced version: 39-1A-1, 39-1A-6