Nevada Revised Statutes 688C.212 – Financial planner who performs certain activities related to viatical settlements required to be licensed as insurance consultant
1. A financial planner who, on behalf of a viator and for a fee, commission or other valuable consideration not paid by a provider or purchaser of viatical settlements, offers or attempts to negotiate a viatical settlement between the viator and one or more providers or brokers of viatical settlements must be licensed as an insurance consultant pursuant to NRS 683C.020.
Terms Used In Nevada Revised Statutes 688C.212
- 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.
2. As used in this section, ‘financial planner’ means a person who for compensation advises others upon the investment of money or upon provision for income to be needed in the future, or who holds himself or herself out as qualified to perform either of these functions, but does not include:
(a) An attorney and counselor at law admitted by the Supreme Court of this State;
(b) A certified public accountant or a public accountant pursuant to NRS 628.190 to 628.310, inclusive;
(c) A broker-dealer or sales representative licensed pursuant to NRS 90.310 or exempt under NRS 90.320;
(d) An investment adviser licensed pursuant to NRS 90.330 or exempt under NRS 90.340 or 90.345; or
(e) A producer of insurance licensed pursuant to chapter 683A of NRS or an insurance consultant licensed pursuant to chapter 683C of NRS, whose advice upon investment or provision of future income is incidental to the practice of his or her profession or business.