§ 48.102.020. Commissioner approval required for contract form, rate, fee, commission, or other compensation charged -- Finding necessary for disapproval
After a date established by rule, no viatical settlement provider or viatical settlement broker may use any viatical settlement contract or brokerage contract in this state unless the contract form has been filed with and approved by the commissioner. Any such contract filing is approved if it has not been disapproved within sixty days after it is filed with the commissioner. The rate, fee, commission, or other compensation charged must also be filed with the commissioner at the same time the contract form is filed, and any changes must be filed and approved before use. The commissioner shall disapprove any such viatical settlement contract or brokerage contract, or revoke previous approval, or rates, if the commissioner makes either of the following alternative findings:
(1) The benefits offered to the viator are unreasonable in relation to the rate, fee, or other compensation that is charged; or
(2) Any other provisions or terms of the contract are unreasonable, contrary to the public interest, misleading, or unfair to the viator.
[1995 c 161 § 4.]
Sections: Previous 48.102.005 48.102.010 48.102.015 48.102.020 48.102.025 48.102.030 48.102.035 48.102.040 48.102.045 48.102.050 48.102.055 48.102.900 48.102.901 NextLast modified: April 7, 2009