§ 20-3203 – Contract requirements
20-3203. Contract requirements A. A person may not use any form of life settlement contract in this state unless it is filed with and, if required, approved by the director in a manner that conforms with the filing procedures and any time restrictions or deeming provisions for life insurance forms, policies or contracts. B. As […]
§ 20-3204 – Provider and broker disclosures to owners; violation; classification
20-3204. Provider and broker disclosures to owners; violation; classification A. The provider or broker shall provide in writing the following information, in a separate document that is signed by the owner and provider, to the owner no later than the date of application for the life settlement contract: 1. That there are possible alternatives to […]
§ 20-3205 – Privacy
20-3205. Privacy Except as otherwise provided by law, a provider, broker, insurance company, insurance producer or any other person with actual knowledge of an insured’s identity shall not disclose the identity of an insured or any information that there is a reasonable basis to believe could be used to identify the insured or the insured’s […]
§ 20-3206 – Rule making; examinations
20-3206. Rule making; examinations A. The director may adopt rules reasonably necessary to regulate life settlements and transactions consistent with the provisions of this chapter. B. The director, whenever the director deems it reasonably necessary to protect the interests of the public, may examine the business and affairs of any licensee or applicant for a […]
§ 20-3207 – Conduct of examinations; examination reports; confidentiality
20-3207. Conduct of examinations; examination reports; confidentiality A. The director may investigate suspected fraudulent life settlement acts and persons engaged in the business of life settlements. B. After determining that an examination should be conducted, the director shall issue an examination warrant appointing one or more examiners to perform the examination and instructing them as […]