1. A. A viatical settlement provider or broker shall provide a disclosure document containing the disclosures required in NMSA 1978 Section 59A-20A-8 and this section before or concurrent with taking an application for a viatical settlement contract.
2. B. The disclosure document shall contain the following language: “All medical, financial, personal, or patient identifying information solicited or obtained by a viatical settlement company or viatical settlement broker about a viator and insured, including the viator and insured’s identity or the identity of family members, a spouse or a significant other, is confidential.” The disclosure document shall advise the viator and the insured that such information may be provided to financing entities, including individual and institutional purchasers.
3. C. A viatical settlement provider or broker shall provide a copy of Appendix A, set forth in 13.9.15.18 NMAC, before or concurrent with taking an application for a viatical settlement contract.
4. A. A viatical settlement provider or broker shall obtain from a person that is provided with patient identifying information a signed affirmation that the person will not further divulge the information without procuring the express written consent of the insured for the disclosure, except that if a viatical settlement provider or broker is served with a subpoena and therefore compelled to produce records containing patient identifying information, it shall notify the viator and the insured in writing at their last known addresses within five (5) business days after receiving notice of the subpoena.
5. B. A viatical settlement provider shall not also act as a viatical settlement broker, whether entitled to collect a fee directly or indirectly, in the same viatical settlement.
6. C. A viatical settlement broker shall not, without the written agreement of the viator obtained prior to performing any services in connection with a viatical settlement, seek or obtain any compensation from the viator.
7. D. A viatical settlement provider shall not use a longer life expectancy than is realistic in order to reduce the payout to which the viator is entitled.
8. E. A viatical settlement provider or broker shall not discriminate in the making or solicitation of viatical settlements on the basis of race, age, sex, national origin, creed, religion, occupation, marital or family status or sexual orientation, or discriminate between viators with dependents and without.
9. F. A viatical settlement provider or broker shall not pay or offer to pay any finder’s fee, commission or other compensation to any insured’s physician, or to an attorney, accountant or other person providing medical, legal or financial planning services to the viator, or to any other person acting as an agent of the viator with respect to the viatical settlement.
10. G. A viatical settlement provider shall not knowingly solicit investors who have treated or have been asked to treat the illness of the insured whose coverage would be the subject of the investment.

[13.9.15.15 NMAC - N, 7-1-00]

[13.9.15.16 NMAC - N, 7-1-00]