The Michigan Structured Settlement Protection Statute M.C.L.A. 691.1301 Michigan Compiled Laws Annotated Currentness 691.1301. Short title Sec. 1. This act shall be known and may be cited as the “revised structured settlement protection act”. 691.1302. Definitions Sec. 2. As used in this act: (a) “Annuity issuer” means an insurer that has issued a contract to fund periodic payments under a structured settlement. (b) “Dependent” means a payee’s spouse, minor child, or any other person for whom the payee is legally obligated to provide support, including alimony. (c) “Discounted present value” means the present value of future payments determined by discounting […]