N.Y. General Obligations Law § 5-1705: Procedure for approval of transfers

§ 5-1705. Procedure for approval of transfers. (a) An action for

approval of a transfer of a structured settlement shall be by a special

proceeding brought on only by order to show cause.

(b) Such proceeding shall be commenced to obtain approval of a

transfer of structured settlement payment rights. Such proceeding shall

be commenced:

(i) in the supreme court of the county in which the payee resides; or

(ii) in any court which approved the structured settlement agreement.

(c) A copy of the order to show cause and petition shall be served

upon all interested parties at least twenty days before the time at

which the petition is noticed to be heard. A response shall be served at

least seven days before the petition is noticed to be heard.

(d) A petition for approval of a transfer of structured settlement

payment rights shall include:

(i) a copy of the transfer agreement;

(ii) a copy of the disclosure statement and proof of notice of that

statement required under section 5-1703 of this title;

(iii) a listing of each of the payee's dependents, together with each

dependent's age; and

(iv) a statement setting forth whether there have been any previous

transfers or applications for transfer of the structured settlement

payment rights and giving details of all such transfers or applications

for transfer.

(e) On the hearing, the payee shall attend before the court unless

attendance is excused for good cause.