N.Y. GOL 5-1706, read September 2026
Whether the payee must be told to take advice in New York
What N.Y. GOL 5-1706 says about whether the payee must be told to take advice 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
- 3/5
- the day these pages were read
- 2026-09-11
The statute's own words
independent professional advice regarding the transfer and has either received such advice or knowingly waived such advice in writing; (d) the transfer does not contravene any applicable statute or the order of any court or other government authority; and (e) is written in plain language
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 |
|---|---|
| Texas | Independent professional advice" means advice of an attorney, certified public accountant, actuary, or other licensed professional adviser.Texas Civil Practice and Remedies Code, Chapter 141, read September 2026 |
| Florida | independent professional advice concerning a transfer of structured settlement payment rights.Florida 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 the payee must be told to take advice in New York: “independent professional advice regarding the transfer and has either received such advice or knowingly waived such advice in writing; (d) the transfer does not contravene any applicable statute or the order of any court or other government authority; and (e) is written in plain language” (Structured Settlement Compare US Transfer-Law Record).
Cite as: "Structured Settlement Compare US Transfer-Law Record: Whether the payee must be told to take advice, New York", updated 2026-09-11, https://structuredsettlementcompare.com/law/new-york/independent-advice/.