West Virginia Wrap-Up
Tuesday, March 25, 2008 at 04:42PM A structured settlement factoring bill did pass the West Virginia legislature this year, and is at this moment on the Governor’s desk. This bill (HB 4613), which is anticipated will become law shortly, differs drastically from the original proposal that caused such a stir (see our last blog post, “What’s Going On in West Virginia?”). In addition to cleaning up some outdated provisions, the new law confirms that a judge may (not “must”) appoint a guardian ad litem in a transfer case, excuses the judge from being forced to give tax advice to the seller (now the judge is expressly allowed to inquire about tax issues of a guardian ad litem, if appointed, and the factoring company), and requires all attorney’s fees and costs to be paid by the factoring company. This is a very far stretch from the original bill, which would have been disastrous for West Virginians.
For more information on the West Virginia bill and my commentary on some of the political issues surrounding it, listen to my audio interview with Scott Drake of the Legal Broadcast Network by clicking here.
If you have any questions about what happened in West Virginia, or anything else relating to structured settlement factoring, feel free to contact me at mbracy@setcap.com