Nevada Revised Statutes 688C.150 – ‘Viator’ defined
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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.