Maryland House Bill 42
August 4, 2020
Maryland House Bill 42 was introduced to protect alleged victims of childhood lead poisoning from being exploited if they choose to sell their settlement share for permission on the dollar, due to an immediate need for money. Purchasers of structured financial settlements would be barred from buying more than 25% of the remaining funds owed to the seller. This comes on the heels of a Baltimore victim of lead poisoning who sued for less than $65,000. Her yearly $574,000 structured settlement, which was to be paid out over 35 years. Under the legislation the sale of the structured settlement would need judicial approval and the purchase petitions must be filed in the Circuit Court for the county where the seller resides. The bill has been referred to the House Judiciary Committee, but has not been cross-filed in the Senate.