Ohio Code § 2323.583
Ohio Code § 2323.583. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 2323.583.
Following a transfer of structured settlement payment rights pursuant to sections 2323.58 to 2323.585 of the Revised Code , all of the following apply: (A) The structured settlement obligor and the annuity issuer may rely on the court order
approving the transfer in redirecting periodic payments to an assignee or transferee
in accordance with the order approving the transfer and shall, as to all parties except
the transferee or an assignee designated by the transferee, be discharged and released
from any and all liability for the redirected payments. That discharge and release shall not be affected by the failure of any party to
the transfer to comply with sections 2323.58 to 2323.585 of the Revised Code or with the court order approving the transfer. (B) The transferee shall be liable to the structured settlement obligor and the annuity
issuer, as follows: (1) For any taxes incurred by the structured settlement obligor or annuity issuer as
a consequence of the transfer, if the transfer contravenes the terms of the structured
settlement; (2) For any other liabilities or costs, including reasonable costs and attorneys' fees,
arising from compliance by the structured settlement obligor or annuity issuer with
the court order approving the transfer or from the failure of any party to the transfer
to comply with sections 2323.58 to 2323.585 of the Revised Code . (C) Neither the annuity issuer nor the structured settlement obligor may be required
to divide any periodic payment between the payee and any transferee or assignee or
between two or more transferees or assignees. (D) Any further transfer of structured settlement payment rights by the payee may be
made only if the transfer complies with all of the requirements of sections 2323.58 to 2323.585 of the Revised Code .
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 2323.583
- Jurisdiction: Ohio
- Code: Ohio Revised Code
- Text: transcribed from the official source (verify below)
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Common questions
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