H.R. 4022 (112th): Structured Settlement Claimants Rights Act of 2012

112th Congress, 2011–2013. Text as of Feb 14, 2012 (Introduced).

Status & Summary | PDF | Source: GPO

I

112th CONGRESS

2d Session

H. R. 4022

IN THE HOUSE OF REPRESENTATIVES

February 14, 2012

(for himself, Ms. Hochul, and Mr. Braley of Iowa) introduced the following bill; which was referred to the Committee on the Judiciary

A BILL

To amend title 28, United States Code, to protect the right of a claimant in a civil action before a Federal court to retain a structured settlement broker to negotiate the terms of payment of an award, and for other purposes.

1.

Short title

This Act may be cited as the Structured Settlement Claimants Rights Act of 2012.

2.

In general

(a)

Federal court proceedings

Chapter 111 of title 28, United States Code, is amended by adding at the end the following:

1660.

Right to retain structured settlement broker

A claimant in any civil action before a Federal court shall have the right to retain a structured settlement broker to act on behalf of that claimant for purposes of negotiating a schedule of payments or other terms of payment of a sum certain previously agreed to paid by or on behalf of the defendant in satisfaction of a judgment against that defendant or in accordance with the terms of a settlement. The court shall inform the claimant of this right at the appropriate time. The defendant shall provide timely notice of any professional relationship between the defendant and the broker if any such relationship exists or has existed.

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(b)

Administrative proceedings

Section 554 of title 5, United States Code, is amended by adding at the end the following:

(f)

In the case of any proceeding under this section, a party to that proceeding shall have the right to retain a structured settlement broker to act on behalf of that party for purposes of negotiating a schedule of payments or other terms of payment of a sum certain previously agreed to paid by or on behalf of another party in satisfaction of a decision against that party or in accordance with the terms of a settlement between the parties. The agency shall inform the claimant of this right at the appropriate time. The defendant shall provide timely notice of any professional relationship between the defendant and the broker if any such relationship exists or has existed.

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