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The Maine Structured Settlement Transferee license

Structured Settlement Transferee

Buys future structured settlement payments from the person entitled to them. Registers with the Bureau before doing any business here, and every purchase then has to survive a judge.

Course

None

This license has no pre-licensing course route.

Ways in

1

There is no state exam for this license.

Exam

n/a

Not required on any of the routes below.

Every way to qualify

  1. Route 1 Give notice and register before doing business

    No state exam for this license

    • Notice to the superintendent, before any business is done in Maine, identifying the state in which the transferee is domiciled and the principal place of business of the group, with whatever else the superintendent requires, and the fee at 601(25); an agent designated solely to receive service of legal documents or process; and notice of any later change to any of it within 10 days

    24-A M.R.S. 2242(1) makes the notice a precondition rather than a filing: a transferee "that intends to do business in this State shall, prior to doing business, pay the appropriate fee at the rate established in section 601 and furnish notice to the superintendent". 2242(2) adds the registration and the agent for service. That is the whole of the qualification. There is no examination, no bond, no net worth, no plan of operation and no finding of competence anywhere in chapter 24-A, which makes this the lightest thing the Bureau grants and the only one where the substantive control sits outside the Bureau entirely. 2243(2) is where it sits: no transfer of structured settlement payment rights is effective, and no obligor has to pay a transferee, unless a court or responsible administrative authority has authorized it in advance on express findings. Those findings are the real qualification and there are seven, including a disclosure statement given at least 10 days before the payee incurred any obligation, in bold type no smaller than 14 points, itemising the discounted present value, the discount rate, the gross and net amounts and every fee; a finding that the transfer is necessary to avoid imminent financial hardship and will not create undue hardship later; and a finding that the payee has received independent professional advice on the legal, tax and financial consequences. The fee is $100 to register and $100 a year at 601(25). The Bureau lists this among individuals and business entities rather than among insurers, and it is not insurance: the licensee sells nothing, places nothing and adjusts nothing.

    Read at legislature.maine.gov on 2026-08-19

No national seller sells a course for this license. Nothing could: 2242 is a notice and a registration with no examination, no bond and no finding of competence, and the substantive test happens in front of a judge under 2243 rather than in front of the Bureau.