Effective: September 11, 2008
Latest Legislation: House Bill 404 - 127th General Assembly
Trusts or other persons that are created to give the appearance of insurable interest and are used to initiate one or more policies for investors violate insurable interest laws and the prohibition against wagering on life.
Structure Ohio Revised Code
Chapter 3916 | Viatical Settlements Model Act
Section 3916.01 | Viatical Settlements Model Act Definitions.
Section 3916.02 | Viatical Settlement Provider or Broker License.
Section 3916.03 | Application for License - Issuance, Renewal - New or Revised Information.
Section 3916.031 | Licensed Broker Business to Maintain Licensed Individual.
Section 3916.04 | Broker Deemed to Represent Viator - Fiduciary Duty.
Section 3916.05 | Forms to Be Approved by Superintendent - Fees.
Section 3916.06 | Required Disclosures With Application.
Section 3916.07 | Viatical Settlement Provider - Duties - Confidentiality of Medical Information.
Section 3916.08 | Right to Rescind Contract After Receipt of Proceeds.
Section 3916.09 | Independent Escrow Agent.
Section 3916.10 | Limiting Contact With Insured After Settlement Has Occurred.
Section 3916.11 | Records - Examinations.
Section 3916.12 | Annual Statement - Financial Statements.
Section 3916.13 | Permitted Disclosures.
Section 3916.14 | Examination by Superintendent.
Section 3916.15 | Prohibitions.
Section 3916.17 | Advertising of Viatical Settlement Contracts.
Section 3916.171 | Fraudulent Viatical Settlement Acts Prohibited.
Section 3916.172 | Transactions in Furtherance of Stranger-Originated Insurance Void.
Section 3916.173 | Trusts to Give Appearance of Insurable Interest Illegal.
Section 3916.18 | Prohibiting Fraudulent Acts.
Section 3916.19 | Injunctions.