Sec. 17. (a) A viatical settlement provider shall file with the department an annual report containing information prescribed in rules adopted by the department under IC 4-22-2.

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Terms Used In Indiana Code 27-8-19.8-17

  • department: refers to the department of insurance. See Indiana Code 27-8-19.8-2
  • insured: refers to an individual whose life is the subject of insurance under a life insurance policy or contract. See Indiana Code 27-8-19.8-3
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • viatical settlement provider: means a person, other than a viator, that:

    Indiana Code 27-8-19.8-5

     (b) The rules adopted by the department under subsection (a) shall set the date by which annual reports must be submitted.

     (c) A viatical settlement provider shall maintain records of each viatical settlement at least five (5) years after the death of the insured.

As added by P.L.130-1994, SEC.47 and P.L.116-1994, SEC.70. Amended by P.L.32-1998, SEC.19.

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