[§431E-46]  Confidentiality.  (a)  The
documents and evidence provided pursuant to section 431E-45 or obtained by the
commissioner in an investigation of suspected or actual fraudulent life
settlement acts shall be privileged and confidential and shall not be a public
record and shall not be subject to discovery or subpoena in a civil or criminal
action.



(b)  Subsection (a) does not prohibit release
by the commissioner of documents and evidence obtained in an investigation of
suspected or actual fraudulent life settlement acts:



(1)  In administrative or judicial proceedings to
enforce laws administered by the commissioner;



(2)  To federal, state, or local law enforcement or
regulatory agencies, to an organization established for the purpose of
detecting and preventing fraudulent life settlement acts or to the National
Association of Insurance Commissioners; or



(3)  At the discretion of the commissioner, to a
person in the business of life settlements that is aggrieved by a fraudulent
life settlement act.



(c)  Release of documents and evidence under
subsection (b) does not abrogate or modify the privilege granted in subsection
(a). [L 2008, c 177, pt of §1]