WA People
BILL · 2001–02 SESSION · LATEST VERSION EHB 1347

HB 1347: Settlement protection act

Creating the structured settlement protection act.

Summary

  • $ A process is created by which a third party must first obtain court approval before acquiring the rights of the original beneficiary to receive annuity payments under a structured settlement agreement. Before the court will approve such an acquisition, a third party must make specified disclosures to the original beneficiary and comply with notice requirements. The court cannot approve a proposed acquisition without entering a finding that the transaction is in the best interests of the original beneficiary.

From the House Bill Analysis (HB 1347), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 178, Laws of 2001
  1. IntroducedJan 24, 2001
  2. Out of committeeFeb 14, 2001
  3. Passed HouseMar 9, 2001
  4. Passed SenateApr 10, 2001
  5. GovernorMay 7, 2001
  6. LawMay 7, 2001
Prime sponsor
Brad Benson (R-6)
Introduced
January 24, 2001 in the House
Last action
May 7, 2001
Session law
Chapter 178, Laws of 2001

AN ACT Relating to creating the structured settlement protection act;

Sponsors

Prime sponsor: Brad Benson (R-6)

1 co-sponsor (1 Democrat, 0 Republicans)

Brian Hatfield D-19

Votes

House · Final Passage

Passed March 9, 2001
Version voted on: EHB 1347
93 Yea 0 Nay 0 Absent 5 Excused
PartyYeaNayAbsentExcused
Democrat46003
Republican47002
How each member voted

Yea (93)

Permalink to this vote

Senate · 3rd Reading & Final Passage

Passed April 10, 2001
Version voted on: EHB 1347
46 Yea 0 Nay 0 Absent 3 Excused
PartyYeaNayAbsentExcused
Democrat24001
Republican22002
How each member voted

Yea (46)

Permalink to this vote

House · Final Passage as Amended by the Senate

Passed April 13, 2001
Version voted on: EHB 1347
85 Yea 0 Nay 0 Absent 13 Excused
PartyYeaNayAbsentExcused
Democrat42007
Republican43006
How each member voted

Yea (85)

Permalink to this vote

History

  1. Effective date 7/22/2001. (EHB 1347)
  2. Chapter 178, 2001 Laws. (EHB 1347)
  3. Governor signed. (EHB 1347)
  4. Delivered to Governor. (EHB 1347)
  5. President signed. (EHB 1347)
  6. Speaker signed. (EHB 1347)
  7. Passed final passage; yeas, 85; nays, 0; absent, 0; excused, 13. (EHB 1347)
  8. House concurred in Senate amendments. (EHB 1347)
  9. Third reading, passed; yeas, 46; nays, 0; absent, 0; excused, 3. (EHB 1347)
  10. Rules suspended. Placed on Third Reading. (EHB 1347)
  11. Committee amendment adopted with no other amendments. (EHB 1347)
  12. Placed on second reading by Rules Committee. (EHB 1347)
  13. Made eligible to be placed on second reading. (EHB 1347)
  14. LCF - Majority; do pass with amendment(s). (EHB 1347)
  15. Passed to Rules Committee for second reading. (EHB 1347)
  16. First reading, referred to Labor, Commerce & Financial Institutions. (EHB 1347)
  17. Third reading, passed; yeas, 93; nays, 0; absent, 0; excused, 5. (EHB 1347)
  18. Rules suspended. Placed on Third Reading. (EHB 1347)
  19. Floor amendment(s) adopted. (EHB 1347)
  20. Placed on second reading. (EHB 1347)
  21. Placed on second reading suspension calendar by Rules Committee. (EHB 1347)
  22. Placed on second reading by Rules Committee. (EHB 1347)
  23. Passed to Rules Committee for second reading. (EHB 1347)
  24. FII - Majority; do pass. (EHB 1347)
  25. FII - Executive action taken by committee. (EHB 1347)
  26. First reading, referred to Financial Institutions & Insurance. (EHB 1347)

HB 1347 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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