(1) A person shall not act as a life settlement broker unless the person holds a license of life settlement broker issued by the Director of the Department of Consumer and Business Services.
(2) The term “life settlement broker” does not apply to an attorney, accountant or financial planner retained to represent the policyholder or certificate holder unless compensation paid to the attorney, accountant or financial planner is paid by the life settlement provider.
(3) A life settlement broker may use the term “viatical settlement broker” to describe the business transacted under the license and may use the term “viatical settlement contract” instead of “life settlement contract.” [1995 c.342 §4]
Section: Previous 744.313 744.314 744.315 744.316 744.319 744.320 744.321 744.323 744.325 744.326 744.328 744.330 744.331 744.333 744.335 NextLast modified: August 7, 2008