{
Beginning
}
Subject to Subsection (3)(b), beginning
April 30, 2007, S. [an
employee] a person .S may not
:
(i)
transfer payment
53a
rights under
54
workers' compensation
{
.
55
(b) Beginning April 30, 2007, a person may not
}
; or
(ii)
accept or take any action to provide for
56
a transfer of payment rights under workers' compensation.
(b) A person may take an action prohibited under Subsection (3)(a) if the commission approves the
transfer of payment rights under workers' compensation:
(i) before the transfer of payment rights under workers' compensation takes effect; and
(ii) upon a determination by the commission that the person transferring the payment rights under
workers' compensation received before executing an agreement to transfer those payment rights:
(A) adequate notice that the transaction involving the transfer of payment rights under workers'
compensation involves the transfer of those payment rights; and
(B) an explanation of the financial consequences of and alternatives to the transfer of payment rights
under workers' compensation in sufficient detail that the person transferring the payment rights made an
informed decision to transfer those payment rights.