Chapter 59 - LIFE SETTLEMENTS ACT

Section 33-59-1 - Short title
Section 33-59-2 - Definitions
Section 33-59-3 - License requirements; representation of producers; exceptions; application and renewal; fees; licenses for legal entities; investigations; nonresident applicants; required information from provider; continued training requirements
Section 33-59-4 - Suspension, revocation, or refusal to renew licenses; grounds; hearing required
Section 33-59-5 - Filing of contracts and disclosure statements with the Commissioner; approval or disapproval
Section 33-59-6 - Filing of annual statement with the Commissioner; confidential information
Section 33-59-7 - Examination of licensees and businesses; record retention requirements; examination reports; orders; hearings; confidentiality of examination information; conflict of interest; immunity; investigative authority of the Commissioner
Section 33-59-8 - Advertising
Section 33-59-9 - Required written disclosures; consequence for failure to provide
Section 33-59-10 - Lender-financed premiums using policy as collateral; disclosures and certifications
Section 33-59-11 - Required documents and information; confidentiality; seller's right to rescind; escrow proceedings; failure to tender consideration; limitation on contracts with the insured for the purpose of determining the insured's health status
Section 33-59-12 - Determining governing law when multiple owners
Section 33-59-13 - Unlawful activities deemed fraudulent life settlement act
Section 33-59-14 - Violations; required statement; reporting of fraudulent acts to the Commissioner; immunity for providing information concerning fraudulent acts; confidentiality of documents and evidence; mandatory adoption of antifraud initiatives by providers
Section 33-59-15 - Remedies and penalties for violations; procedural issues
Section 33-59-16 - Fraudulent life settlement acts prohibited; criminal and civil penalties; revocation of license
Section 33-59-17 - Unfair trade practice
Section 33-59-18 - [Repealed]