West Virginia

🛡️ West Virginia Registration Requirements for Structured Settlement Purchase Companies

Structured settlement purchasers looking to do business in West Virginia must follow specific registration procedures under state law. Whether you’re advertising or arranging transfers of future payment rights, you must first comply with the statutory requirements laid out in West Virginia Code §46A-6H-8.

Mandatory Registration Before Business Activities

According to §46A-6H-8, any transferee or person in the business of soliciting or purchasing future structured settlement payments in West Virginia must register with the West Virginia Secretary of State before engaging in any marketing, advertising, or transaction-related activity.

Required Contents of the Registration Statement

To comply with West Virginia law, your registration filing must include:

1. Name and Address of the Transferee
   This refers to the full legal name and business address of the structured settlement purchaser.
2. Agent for Service of Process in West Virginia
   • If your company has an in-state agent, provide their name and address.
   • If you do not have a designated agent in West Virginia, you must declare that the Secretary of State will act as your statutory agent for service of process.
3. Disclosure of Legal History
   Your registration must include either:
   • A full and complete disclosure of any past or pending litigation alleging violations of West Virginia’s structured settlement transfer laws, including complaints filed with the West Virginia Attorney General;
     OR
   • A notarized statement affirming that no such litigation or unresolved complaints exist.

Why This Matters

Failing to properly register can result in denial of court-approved transfer petitions, penalties, or enforcement action by the West Virginia Attorney General. Compliance ensures transparency and consumer protection in structured settlement transactions involving West Virginia residents.

Reference

You can read the full text of §46A-6H-8 on the West Virginia Legislature’s website:
👉 West Virginia Code §46A-6H-8 – Registration with the Secretary of State

⚠️ Disclaimer: General information only — not legal advice. Registration requirements change. Verify with current state law. Read full disclaimer →