LD 1907
pg. 13
Page 12 of 38 An Act To Govern and Regulate Life Settlements Page 14 of 38
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LR 2724
Item 1

 
prescribes by rule. The superintendent may not adopt any rule that
requires the submission of information that permits the
identification of a viator or relates to transactions when the
viator is not a resident of this State. The superintendent may not
request, collect or compile personal information that identifies
any viator or insured except in connection with the investigation
of a specific complaint and with the prior written permission of
the viator or insured or the viator's or insured's estate or
representative to collect that information.

 
1-A. Fee for filing annual report. The fee for filing the
annual report is the same as for an insurer as provided in
section 601. On or before July 1st of each year, the
superintendent shall forward to each viatical settlement provider
an itemized bill for the amount due for the filing of the annual
statement and the amount due for the certificate of authority
annual fee.

 
2. Privacy protection. Except as otherwise required or
permitted by law, a viatical settlement provider, viatical
settlement producer, independent viatical producer, institutional
investor, insurance company, insurance producer, independent
insurance producer, information bureau, rating company or any
other person with actual knowledge of the identity of a viator,
or of the insured if other than the viator, may not disclose that
identity, or the insured's financial or medical information, to
any other person unless the viator, or the insured if other than
the viator, provides written consent to the disclosure and the
disclosure:

 
A. Is made to a viatical settlement provider, a viatical
producer, an independent viatical producer, an institutional
investor or other person determined by rule and is necessary
to effect the viatical settlement between the viator and the
viatical settlement provider necessary to effectuate a
settlement contract between the viator and a settlement
provider and the viator and the insured have provided prior
written consent to the disclosure;

 
B. Is provided in response to an investigation or
examination by the superintendent or any other government
officer or agency pursuant to section 6807; or

 
C. Is necessary to facilitate permit a financing transaction
and is made either to a licensed viatical settlement
provider or to an institutional investor. entity, related
provider trust or special purpose entity to finance the
purchase of policies by a settlement provider and the viator
and insured have provided prior written consent to the
disclosure;


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