CHAPTER 636

H.P. 1411 - L.D. 1907

An Act To Govern and Regulate Life Settlements

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 24-A MRSA §601, sub-§27 is enacted to read:

27.__Viatical or life settlement provider.__Settlement provider license issuance fees and renewal fees may not exceed:

A.__Original license issuance fee $400; and

B.__Annual renewal fee $400

Sec. 2. 24-A MRSA c. 85, as amended, is further amended by repealing the chapter headnote and enacting the following in its place:

CHAPTER 85

VIATICAL AND LIFE SETTLEMENTS ACT

Sec. 3. 24-A MRSA §6801, as enacted by PL 1997, c. 430, §1 and affected by §2, is amended to read:

§6801. Short title

This chapter may be known and cited as the "Viatical and Life Settlements Act."