Section 17B:30B-15 - Regulations, authority of commissionerThe commissioner shall have the authority to promulgate regulations implementing the provisions of this act pursuant to the "Administrative Procedure Act," P.L. 1968, c.410 (C.52:14B-1 et seq.) including, but not limited to, the following:
a. Establishing standards for evaluating reasonableness of payments under viatical settlement contracts for persons terminally or chronically ill;b. Establishing appropriate licensing requirements, fees and standards for continued licensure for viatical settlement providers;c. Requiring a bond or other mechanism for financial accountability for viatical settlement providers; andd. Governing the relationship and responsibilities of insurers, viatical settlement providers, life insurance producers and others in the business of viatical settlements during the period of consideration or effectuation of a viatical settlement contract.Added by L. 2005, c. 229, s. 15, eff. 9/22/2005.