Applicant for approval of transfer of structured settlement payment rights required to provide evidence of registration; transfer order signed by court constitutes qualified order under federal law if transferee is registered.

1. At the time an application is made under NRS 42.200 to 42.400, inclusive, for the approval of a transfer of structured settlement payment rights, the application of the transferee must include evidence that the transferee is registered to do business in this State as a structured settlement purchase company. 2. Except as otherwise provided in this subsection, a transfer order signed by a district court of competent jurisdiction pursuant to NRS 42.200 to 42.400, inclusive, constitutes a qualified order under 26 U.S.C. § 5891. If a transferee to which the transfer order applies is not registered as a structured settlement purchase company pursuant to NRS 42.200 to 42.400, inclusive, at the time the transfer order is signed, the transfer order does not constitute a qualified order under 26 U.S.C. § 5891. (Added to NRS by 2021, 1726)