Administrative Code

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Virginia Administrative Code
Title 14. Insurance
Agency 5. State Corporation Commission, Bureau of Insurance
Chapter 71. Rules Governing Viatical Settlement Providers and Viatical Settlement Brokers

14VAC5-71-50. Other Requirements for Viatical Settlement Brokers.

A. In the absence of a written agreement making the viatical settlement broker the viator's agent, viatical settlement brokers shall be presumed to be agents of viatical settlement providers.

B. Viatical settlement brokers shall not, without the written agreement of the viator obtained prior to performing any services in connection with a viatical settlement, seek or obtain any compensation from the viator.

Statutory Authority

§§ 12.1-13 and 38.2-223 of the Code of Virginia.

Historical Notes

Derived from Volume 14, Issue 02, eff. October 15, 1997; amended, Virginia Register Volume 19, Issue 01, eff. September 4, 2002.

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