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Connecticut General Statutes

Part III

Life Settlements

38a-465Definitions.38a-465aLicensing of life settlement providers and brokers.38a-465bDenial, suspension or revocation of license. Refusal to renew license. Appeals.38a-465cContract form and disclosure statements. Filing and approval requirements. Disclosure of life settlement contract availability and lawful assignment not to be prohibited.38a-465dAnnual statements. Penalty. Confidentiality of insured's information. Reasons for disclosure of insured's identity.38a-465eExamination of licensees and applicants. Commissioner's access to records. Retention of records. Expenses of examination. Confidentiality of examination workpapers and reports.38a-465fRequired disclosures.38a-465gPrerequisites to a life settlement contract wherein insured is terminally or chronically ill. Medical release and confidentiality of medical information. Verification of coverage. Notice to insurer. Change of ownership or beneficiary. Rescission. Escrow agent or trustee. Broker fee calculation and disclosure of compensation. Prohibitions. Exemptions.38a-465hPremium finance loans. Disclosures and certifications.38a-465iViolations.38a-465jFraudulent life settlement acts prohibited. Confidentiality of documents and evidence. Antifraud plans.38a-465kInjunctions. Cease and desist orders. Damages.38a-465lPenalties.38a-465mRegulations. Imposition of bond or other mechanism as proof of financial accountability. Conflict of laws.38a-465nLife settlement advertisements.38a-465oLife settlement broker deemed to represent only the owner. Fiduciary duty to owner.38a-465pProvider or broker lawfully transacting business in the state or person lawfully negotiating life settlement contracts prior to October 1, 2008.38a-465qRelated provider trusts.38a-466 to 38a-468Conn. Gen. Stat. § 38a-466 to 38a-468