Revises "Structured Settlement Protection Act" and adds additional consumer protections.

1. **ONE-SENTENCE SUMMARY:** This bill updates the Structured Settlement Protection Act to enhance consumer protections related to structured settlements. 2. **KEY REQUIREMENTS:** - Ensure all structured settlement transactions comply with the revised consumer protection standards. - Provide clear disclosures to consumers about their rights and the terms of the settlement. - Obtain court approval for any transfers of structured settlement payments. 3. **DEADLINES:** - The bill will take effect immediately upon signing into law. - Businesses must comply with the new requirements as soon as the law is enacted. 4. **PENALTIES:** - Non-compliance may result in fines imposed by the state. - Consumers may have the right to seek damages in court for violations of the law. 5. **SMB IMPACT:** Small businesses involved in structured settlements will need to update their practices to align with the new requirements, which may involve additional administrative work and potential legal costs. Compliance is crucial to avoid penalties and protect consumer trust.