Ariz. Admin. Code § R19-3-601 - Voluntary Assignment of Prizes Paid in Installments
A. A prize winner may request a voluntary
assignment of an annuity or a portion of the remaining installments of the
annuity by filing an action in a court of competent jurisdiction requesting
judicial approval of the assignment. The prize winner and the purchaser of the
annuity shall name the state of Arizona as a defendant in the action and shall
bear all costs associated with filing the request for judicial approval of the
assignment.
B. A prize winner shall
include in the request for judicial approval under subsection (A) the
following:
1. The affidavit required under
A.R.S. §
5-563(A)(3);
2. A copy of the signed assignment agreement
between the prize winner and the assignee; and
3. Proof that the fee under subsection (D)
has been paid to the Lottery.
C. After the court approves the assignment,
the prize winner shall send the written judicial approval to the Lottery. Upon
receipt of judicial approval of the voluntary assignment, the Director shall
direct the insurance company to make future annuity payments as provided in the
Court order.
D. The prize winner or
assignee shall pay a fee of $235.00 to the Lottery to process the voluntary
assignment.
Notes
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