Section 408-D:19 – Applicability.
408-D:19 Applicability. – A life settlement provider or life settlement producer transacting business in this state may continue to do so pending approval or disapproval of the life settlement provider, or life settlement producer application for licensure if the application is filed with the commissioner within one month of the effective date of this […]
Section 408-D:9 – Life Settlement Provider Disclosure to Viator and Insured; Life Settlement Producer Disclosure to Viator.
408-D:9 Life Settlement Provider Disclosure to Viator and Insured; Life Settlement Producer Disclosure to Viator. – I. With each application for a life settlement, a life settlement provider or a life settlement producer on behalf of the life settlement provider shall provide the viator with at least the following disclosures no later than the […]
Section 408-D:10 – Life Settlement Provider and Life Settlement Producer Disclosure to Insurer.
408-D:10 Life Settlement Provider and Life Settlement Producer Disclosure to Insurer. – Prior to the initiation of a plan, transaction, or series of transactions, a life settlement producer or life settlement provider shall fully disclose to an insurer a plan, transaction, or series of transactions, to which the life settlement producer or life settlement […]
Section 408-D:11 – General Rules.
408-D:11 General Rules. – I. (a) A life settlement provider entering into a life settlement contract shall first obtain: (1) If the viator is the insured, a written statement from a licensed attending physician that the viator is of sound mind and under no constraint or undue influence to enter into a life settlement […]
Section 408-D:12 – Prohibited Practices.
408-D:12 Prohibited Practices. – I. It is a violation of this chapter for any person to solicit or promote STOLI or to knowingly participate in any transaction, practice, or course of business involving the sale or settlement of STOLI. II. It is a violation of this chapter for any person to enter into a […]
Section 408-D:13 – Advertising for Life Settlements.
408-D:13 Advertising for Life Settlements. – The purpose of this section is to provide prospective viators with clear and unambiguous statements in the advertisement of life settlements and to assure the clear, truthful, and adequate disclosure of the benefits, risks, limitations, and exclusions of any life settlement contract. This purpose is intended to be […]
Section 408-D:14 – Fraud Prevention and Control.
408-D:14 Fraud Prevention and Control. – I. Fraudulent life settlement acts, interference, and participation of convicted felons prohibited. (a) A person shall not commit a fraudulent life settlement act. (b) A person shall not knowingly or intentionally interfere with the enforcement of the provisions of this chapter or investigations of suspected or actual violations […]
Section 408-D:15 – Injunctions; Civil Remedies; Cease and Desist.
408-D:15 Injunctions; Civil Remedies; Cease and Desist. – I. In addition to the penalties and other enforcement provisions of this chapter, if any person violates this chapter or any rule implementing this chapter, the commissioner may seek an injunction in a court of competent jurisdiction and may apply for temporary and permanent orders that […]
Section 408-D:16 – Unfair Trade Practices.
408-D:16 Unfair Trade Practices. – A violation of this chapter, including the commission of a fraudulent life settlement act, shall be considered an unfair trade practice under RSA 417. Source. 2010, 132:1, eff. June 14, 2010.
Section 408-D:17 – Rulemaking.
408-D:17 Rulemaking. – The commissioner shall have the authority to: I. Adopt rules pursuant to RSA 541-A, implementing this chapter; II. Establish standards for evaluating reasonableness of payments under life settlement contracts for persons who are terminally or chronically ill. This authority includes, but is not limited to, regulation of discount rates used to […]