A person is not required to be licensed under 3 AAC 31.300 - 3 AAC 31.449 if the person is employed on salary or hourly wage

1. (1) and does not receive commission, directly or indirectly, on a viatical settlement contract entered into by a person licensed under 3 AAC 31.300 - 3 AAC 31.449, and the person's activities are solely for the performance of executive, administrative, managerial, clerical, or similar office duties that are only indirectly related to a viatical settlement transaction; or

2. (2) by a licensed viatical settlement provider, viatical settlement broker, or viatical settlement representative at its place of business and

   1. (A) does not receive commission, directly or indirectly, on a viatical settlement contract entered into by a viatical settlement provider;
   2. (B) is supervised by and reports directly to a licensed viatical settlement provider, viatical settlement broker, or viatical settlement representative in the firm;
   3. (C) does not have direct contact with a viator or insured; and
   4. (D) does not individually engage in the sale, solicitation, or negotiation of a viatical settlement contract with a viator or insured.

(Eff. 8/25/2002, Register 163)