N.Y. GOL 5-1706, read September 2026
Whether a court has to approve the transfer in New York
What N.Y. GOL 5-1706 says about whether a court has to approve the transfer 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
shall be effective and no structured settlement obligor or annuity issuer shall be required to make any payment directly or indirectly to any transferee of structured settlement payment rights unless the transfer has been authorized in advance in a final order of a court of competent jurisdiction based upon express findings by such court
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 | The tax under subsection (a) shall not apply in the case of a structured settlement factoring transaction in which the transfer of structured settlement payment rights is approved in advance in a qualified order.26 U.S.C. 5891, Structured settlement factoring transactions, read September 2026 |
| Texas | No direct or indirect transfer of structured settlement payment rights shall be effective and no structured settlement obligor or annuity issuer shall be required to make any payment directly or indirectly to any transferee of structured settlement payment rights unless the transfer has been approved in advance in a final court order based on express findings by the courtTexas Civil Practice and Remedies Code, Chapter 141, read September 2026 |
| Florida | express findings by the court that: 1. The transfer complies with this section and does not contravene other applicable lawFlorida 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 whether a court has to approve the transfer in New York: “shall be effective and no structured settlement obligor or annuity issuer shall be required to make any payment directly or indirectly to any transferee of structured settlement payment rights unless the transfer has been authorized in advance in a final order of a court of competent jurisdiction based upon express findings by such court” (Structured Settlement Compare US Transfer-Law Record).
Cite as: "Structured Settlement Compare US Transfer-Law Record: Whether a court has to approve the transfer, New York", updated 2026-09-11, https://structuredsettlementcompare.com/law/new-york/court-approval/.