- (1) A life settlement licensee that knows or suspects that any person violated or will violate Section 31A-36-113, shall, upon acquiring the knowledge, promptly notify the commissioner and provide a complete and accurate statement of all relevant facts and circumstances.
- (2) Any other person acquiring such knowledge may furnish the information to the commissioner in the same manner.
- (3) The fraud report is a protected communication and when made without actual malice does not subject the person making the report to liability.
- (4) The commissioner may suspend, revoke, or refuse to renew the license of a person who fails to comply with this section.
KEY: insurance, life settlement
Date of Last Change: July 25, 2023
Notice of Continuation: May 1, 2023
Authorizing, and Implemented or Interpreted Law: 31A-2-201; 31A-36-119