1. “Viator” means the owner of a policy or the holder of a certificate of insurance under a policy of group insurance who resides in this State and who enters or seeks to enter into a viatical settlement. The term is not limited to an owner who is terminally or chronically ill except where that limitation is expressly provided.
2. The term does not include:
(a) A producer of life insurance acting as a broker of viatical settlements pursuant to this chapter;
(b) A qualified institutional buyer as defined in Rule 144A of the federal Securities Act of 1933, 15 U.S.C. §§ 77a et seq., as amended;
(c) A financing agent; or
(d) A special organization.
(Added to NRS by 2001, 2168; A 2009, 1792)
NRS 688C.160 Governing law when residents of different states are viators or purchasers of viatical settlements with respect to single policy. If there is more than one viator or purchaser of viatical settlements with respect to a single policy and they are residents of different states, one of whom resides in this State and enters or seeks to enter into a viatical settlement or an agreement to purchase a viatical settlement, the legal effect of the viatical settlement or agreement to purchase a viatical settlement, as applicable, is governed by the law of the state in which the viator or the purchaser having the largest fractional ownership resides. If the viators or purchasers of viatical settlements own equal fractions, they may agree in writing to choose which state, among the states in which the viators or purchasers of viatical settlements reside, will be the state whose law will govern.
1. “Viator” means the owner of a policy or the holder of a certificate of insurance under a policy of group insurance who resides in this State and who enters or seeks to enter into a viatical settlement. The term is not limited to an owner who is terminally or chronically ill except where that limitation is expressly provided.
2. The term does not include:
(a) A producer of life insurance acting as a broker of viatical settlements pursuant to this chapter;
(b) A qualified institutional buyer as defined in Rule 144A of the federal Securities Act of 1933, 15 U.S.C. §§ 77a et seq., as amended;
(c) A financing agent; or
(d) A special organization.
(Added to NRS by 2001, 2168; A 2009, 1792)
NRS 688C.160 Governing law when residents of different states are viators or purchasers of viatical settlements with respect to single policy. If there is more than one viator or purchaser of viatical settlements with respect to a single policy and they are residents of different states, one of whom resides in this State and enters or seeks to enter into a viatical settlement or an agreement to purchase a viatical settlement, the legal effect of the viatical settlement or agreement to purchase a viatical settlement, as applicable, is governed by the law of the state in which the viator or the purchaser having the largest fractional ownership resides. If the viators or purchasers of viatical settlements own equal fractions, they may agree in writing to choose which state, among the states in which the viators or purchasers of viatical settlements reside, will be the state whose law will govern.
1. “Viator” means the owner of a policy or the holder of a certificate of insurance under a policy of group insurance who resides in this State and who enters or seeks to enter into a viatical settlement. The term is not limited to an owner who is terminally or chronically ill except where that limitation is expressly provided.
2. The term does not include:
(a) A producer of life insurance acting as a broker of viatical settlements pursuant to this chapter;
(b) A qualified institutional buyer as defined in Rule 144A of the federal Securities Act of 1933, 15 U.S.C. §§ 77a et seq., as amended;
(c) A financing agent; or
(d) A special organization.
(Added to NRS by 2001, 2168; A 2009, 1792)
NRS 688C.160 Governing law when residents of different states are viators or purchasers of viatical settlements with respect to single policy. If there is more than one viator or purchaser of viatical settlements with respect to a single policy and they are residents of different states, one of whom resides in this State and enters or seeks to enter into a viatical settlement or an agreement to purchase a viatical settlement, the legal effect of the viatical settlement or agreement to purchase a viatical settlement, as applicable, is governed by the law of the state in which the viator or the purchaser having the largest fractional ownership resides. If the viators or purchasers of viatical settlements own equal fractions, they may agree in writing to choose which state, among the states in which the viators or purchasers of viatical settlements reside, will be the state whose law will govern.
