Nevada Revised Statutes 688C.137 – ‘Viatical settlement purchase agreement’ defined
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‘Viatical settlement purchase agreement’ means a contract or agreement to which the viator is not a party, and which is entered into by a purchaser of viatical settlements to purchase a life insurance policy or an interest in a life insurance policy for the purpose of deriving an economic benefit.
Terms Used In Nevada Revised Statutes 688C.137
- Contract: A legal written agreement that becomes binding when signed.
- 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.