- A. No person shall act as a viatical settlement broker with a resident of this Commonwealth without first obtaining a license from the commission as set forth in § 38.2-1865.1 of the Code of Virginia.
- B. A viatical settlement broker shall submit an application on a form required by the commission.
- C. The application shall be accompanied by a fee of $50. The license may be renewed annually by submitting a renewal form and payment of a fee of $50 on or before June 1 of each year. Failure to submit a renewal form and fee within the time prescribed shall result in an automatic expiration of the license on June 30.
- D. The license shall be a limited license that allows solicitation only of viatical settlements.
- E. Prelicensing examination and continuing education required of agents in §§ 38.2-1815, 38.2-1817, and 38.2-1866 of the Code of Virginia shall not apply to viatical settlement brokers.
- F. The commission may require such additional information as is necessary to determine whether the applicant complies with the requirements of § 38.2-1865.1 of the Code of Virginia.
Statutory Authority
§§ 12.1-13 and 38.2-223 of the Code of Virginia.
Historical Notes
Derived from Virginia Register Volume 14, Issue 2, eff. October 15, 1997; amended, Virginia Register Volume 19, Issue 1, eff. September 4, 2002; Volume 20, Issue 5, eff. November 1, 2003.