1. (1) The purpose of this rule is to implement procedures for:

   1. (a) licensing a life settlement provider or life settlement producer;
   2. (b) a life settlement provider or a life settlement producer annual report;
   3. (c) disclosures;
   4. (d) advertising;
   5. (e) reporting of fraud;
   6. (f) prohibited practices;
   7. (g) standards for life settlement payments; and
   8. (h) procedures for a request for verification of coverage.

2. (2) This rule applies to:

   1. (a) a life settlement provider;
   2. (b) a life settlement producer; or
   3. (c) an insurer whose policy is to be settled.

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