[§431E-46]  Confidentiality.  (a)  Thedocuments and evidence provided pursuant to section 431E-45 or obtained by thecommissioner in an investigation of suspected or actual fraudulent lifesettlement acts shall be privileged and confidential and shall not be a publicrecord and shall not be subject to discovery or subpoena in a civil or criminalaction.

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

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

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

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

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