For purposes of sections 60A.975 and 60A.976 , the definitions in this section have the meanings given them. "Annuity issuer" means an insurer that issues an insurance contract used to fund periodic payments under a structured settlement agreement. "Structured settlement" means an arrangement for periodic payment of damages entered on behalf of a minor or incompetent person for personal injuries established by settlement or judgment. "Structured settlement agreement" means the agreement, judgment, stipulation, or release embodying the terms of a structured settlement.
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