1.  ’Viator’ means the owner of a policy or the holder of a certificate of insurance under a policy of group insurance who resides in this State and who enters or seeks to enter into a viatical settlement. The term is not limited to an owner who is terminally or chronically ill except where that limitation is expressly provided.

Terms Used In Nevada Revised Statutes 688C.150

  • 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.

2.  The term does not include:

(a) A producer of life insurance acting as a broker of viatical settlements pursuant to this chapter;

(b) A qualified institutional buyer as defined in Rule 144A of the federal Securities Act of 1933, 15 U.S.C. § 77a et seq., as amended;

(c) A financing agent; or

(d) A special organization.

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