Chapter 59 - Life Settlements

Chapter 59 - Life Settlements

§ 33-59-1. Short title
§ 33-59-2. Definitions
§ 33-59-3. License requirements; representation of producers; exceptions; application and renewal; fees; licenses for legal entities; investigation by Commissioner and issuance of license; nonresident applicants; required information from provider; continued training requirements
§ 33-59-4. Suspension, revocation, or refusal to renew licenses; grounds; hearing required
§ 33-59-5. Filing of contracts and disclosure statements with the Commissioner; approval or disapproval
§ 33-59-6. Filing of annual statement with the Commissioner; confidential information
§ 33-59-7. Examination of licensees and businesses; record retention requirements; examination reports; orders; hearings; confidentiality of examination information; conflict of interest; immunity; investigative authority of the Commissioner
§ 33-59-8. Advertising
§ 33-59-9. Required written disclosures; consequence for failure to provide
§ 33-59-10. Lender-financed premiums using policy as collateral; disclosures and certifications
§ 33-59-11. Required documents and information; confidentiality; seller's right to rescind; escrow proceedings; failure to tender consideration; limitation on contracts with the insured for the purpose of determining the insured's health status
§ 33-59-12. Promulgation of regulations; determining governing law when multiple owners
§ 33-59-13. Unlawful activities deemed fraudulent life settlement act
§ 33-59-14. Violations; required statement; reporting of fraudulent acts to the Commissioner; immunity for providing information concerning fraudulent acts; confidentiality of documents and evidence; mandatory adoption of antifraud initiatives by providers
§ 33-59-15. Remedies and penalties for violations; procedural issues
§ 33-59-16. Fraudulent life settlement acts prohibited; criminal and civil penalties; revocation of license
§ 33-59-17. Unfair trade practice
§ 33-59-18. Transacting business permitted while the provider's license application is pending

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