N.Y. GOL 5-1706, read September 2026
What the court has to find in New York
What N.Y. GOL 5-1706 says about what the court has to find in New York, quoted verbatim from New York General Obligations Law s 5-1706, read September 2026.
- the statute quoted here
- N.Y. GOL 5-1706
- of the statutes read address this question
- 4/5
- the day these pages were read
- 2026-09-11
The statute's own words
best interest of the payee, taking into account the welfare and support of the payee's dependants; and whether the transaction, including the discount rate used to determine the gross advance amount and the fees and expenses used to determine the net advance amount, are fair and reasonable.
That sentence is the whole of what N.Y. GOL 5-1706 says on this point in the section cited. It is reproduced here for reporting and comment; it is not legal advice, and nothing on this page is our reading of it.
The same question in other jurisdictions
| Jurisdiction | What the statute says |
|---|---|
| United States | does not contravene any Federal or State statute or the order of any court or responsible administrative authority, and (ii)is in the best interest of the payee, taking into account the welfare and support of the payee’s dependents26 U.S.C. 5891, Structured settlement factoring transactions, read September 2026 |
| Texas | best interest of the payee, taking into account the welfare and support of the payee's dependents; (2) the payee has been advised in writing by the transferee to seek independent professional advice regarding the transfer and has either received the advice or knowingly waived the advice in writing; and (3) the transfer does not contravene any applicable statute or an order of any court or other goTexas Civil Practice and Remedies Code, Chapter 141, read September 2026 |
| Florida | best interests of the payee, taking into account the welfare and support of the payee’s dependents; 4. The payee has received, or waived in writing his or her right to receive, independent professional advice regarding the legal, tax, and financial implications of the transferFlorida Statutes s 626.99296, Transfer of structured settlement payment rights, read September 2026 |
Side by side, each in its own statute's words. Where two jurisdictions differ, the difference is between the two quotations; it is not our characterisation of either.
Where this comes from
Reproduced from New York General Obligations Law s 5-1706 as it stood on September 2026; the plain text of that page from that day is stored beside the record, so the sentence can be checked against its origin. Across the questions asked here, N.Y. GOL 5-1706 answers 3 and says nothing quotable on 2.
Cite or embed this figure
N.Y. GOL 5-1706 on what the court has to find in New York: “best interest of the payee, taking into account the welfare and support of the payee's dependants; and whether the transaction, including the discount rate used to determine the gross advance amount and the fees and expenses used to determine the net advance amount, are fair and reasonable.” (Structured Settlement Compare US Transfer-Law Record).
Cite as: "Structured Settlement Compare US Transfer-Law Record: What the court has to find, New York", updated 2026-09-11, https://structuredsettlementcompare.com/law/new-york/best-interest-test/.