The National Association of Settlement Purchasers (NASP) was directly involved in getting the secondary market for structured settlement recognized and regulated.  They lobbied hard in Congress to reach a sort of political compromise with the National Structured Settlement Trade Association (NSSTA) who represented the primary market of structured settlements, the traditional structured settlement industry.  Thus was born the enactment of IRC Section 5891, the Federal Code that validates the secondary market. The political compromise also includes an agreement to support a Model State Structured Settlement Protection Act.  In other words, it’s a template for states to follow when they want […]