Nevada Revised Statutes 688C.080 – ‘Provider of viatical settlements’ defined
‘Provider of viatical settlements’ means a person other than a viator who enters into or effectuates a viatical settlement. The term does not include:
Terms Used In Nevada Revised Statutes 688C.080
- Contract: A legal written agreement that becomes binding when signed.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
- 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.
1. A bank, savings and loan association, savings bank, thrift company, credit union or other licensed lender that takes an assignment of a policy as security for a loan;
2. The issuer of a policy that provides accelerated benefits pursuant to the contract;
3. An authorized or eligible insurer that provides stop-loss coverage to a provider or purchaser of viatical settlements;
4. A natural person who enters into no more than one agreement in a calendar year for the transfer of policies for a value less than the expected death benefit;
5. A financing agent;
6. A special organization; or
7. A purchaser of viatical settlements.