“Financing agent” defined.
1. “Financing agent” means an underwriter, agent for placement, enhancer of credit, lender, purchaser of securities, purchaser of a policy from a provider of viatical settlements or other person that may enter into a viatical settlement and has direct ownership in a policy that is the subject of the viatical settlement but:
(a) Whose principal activity related to the transaction is providing money to effect the viatical settlement; and
(b) Who has an agreement in writing with one or more licensed providers of viatical settlements to finance the acquisition of one or more viatical settlements.
2. The term does not include a nonaccredited investor or a purchaser of viatical settlements.
Last modified: February 27, 2006