Moves to protect structured settlements

Following 13 states that have already passed legislation to protect recipients of structured settlements from selling them below value, Michigan brought the total to 14 at the end of 2000, requiring approval by both court and funding insurance company. Massachusetts is the first to follow in 2001, with bills proceeding in Indiana, Iowa, Nebraska and Virginia and in preparation in Oklahoma. And in Australia assistant federal treasurer Rod Kemp had agreed to convene a meeting to consider changing the tax laws to allow structured settlements.