Before the initiation of a plan, transaction or series of transactions, a viatical settlement broker or viatical settlement provider shall fully disclose to an insurer a plan, transaction or series of transactions, to which the viatical settlement broker or viatical settlement provider is a part, to originate, renew, continue or finance a life insurance policy with the insurer for the purpose of engaging in the business of viatical settlements at anytime prior to, or during the first five years after, issuance of the policy.
Structure West Virginia Code
Article 13C. Viatical Settlements Act
§33-13C-3. License and Bond Requirements
§33-13C-4. License Revocation and Denial
§33-13C-5. Approval of Viatical Settlement Contracts and Disclosure Statements
§33-13C-6. Reporting Requirements and Privacy
§33-13C-7. Examination or Investigation
§33-13C-8. Disclosure to Viator
§33-13C-9. Disclosure to Insurer
§33-13C-11. Prohibited Practices
§33-13C-12. Prohibited Practices and Conflicts of Interest
§33-13C-13. Advertising for Viatical Settlements
§33-13C-14. Fraud Prevention and Control
§33-13C-15. Injunctions; Civil Remedies; Cease and Desist
§33-13C-16. Criminal Penalties