Indiana Code 27-8-19.8-4.3. “Viatical settlement agent” defined
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Terms Used In Indiana Code 27-8-19.8-4.3
- Contract: A legal written agreement that becomes binding when signed.
- person: means an individual, an association, a corporation, a limited liability corporation, an estate, a partnership, a trust, or any other business or legal entity. See Indiana Code 27-8-19.8-7
- 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.
- viator: refers to the owner of a life insurance policy or a certificate holder under a group policy that insures the life of an insured who enters or seeks to enter into a viatical settlement contract. See Indiana Code 27-8-19.8-8
Sec. 4.3. As used in this chapter, “viatical settlement agent” means a person that solicits, offers, or attempts to negotiate a viatical settlement contract with a viator.
As added by P.L.32-1998, SEC.3.