(a) No person shalloperate as a provider or broker without first obtaining a license from theinsurance regulator of the state of residence of the viator. If there is morethan one viator on a single policy and the viators are residents of differentstates, the viatical settlement shall be governed by the law of the state inwhich the viator having the largest percentage ownership resides or, if theviators hold equal ownership, the state of residence of one viator agreed uponin writing by all viators.
(b) Application for aprovider or broker license shall be made to the Commissioner by the applicanton a form prescribed by the Commissioner, and these applications shall beaccompanied by a fee of five hundred dollars ($500.00).
(c) Licenses may berenewed from year to year on the anniversary date upon payment of the annualrenewal fee of five hundred dollars ($500.00). Failure to pay the fees by therenewal date results in expiration of the license.
(d) The applicant shallprovide information on forms required by the Commissioner. The Commissioner mayrequire the applicant to fully disclose the identity of all stockholders,partners, officers, members, and employees; and the Commissioner may refuse toissue a license in the name of a legal entity if not satisfied that anyofficer, employee, stockholder, partner, or member of the legal entity who maymaterially influence the applicant's conduct meets the standards of this Part.
(e) A license issued toa legal entity authorizes all partners, officers, members, and designatedemployees to act as providers or brokers, as applicable, under the license; andall those persons shall be named in the application and any supplements to theapplication.
(f) Upon the filing ofan application and the payment of the license fee, the Commissioner shallinvestigate each applicant and issue a license if the Commissioner finds thatthe applicant:
(1) If a provider, hasprovided a detailed plan of operation.
(2) Is competent andtrustworthy and intends to act in good faith in the capacity involved by thelicense applied for.
(3) Has a good businessreputation and has had experience, training, or education so as to be qualifiedin the business for which the license is applied.
(4) If a legal entity,provides a certificate of good standing from the state of its domicile.
(g) The Commissionershall not issue a license to a nonresident applicant unless a writtendesignation of an agent for service of process is filed and maintained with theCommissioner or the applicant has filed with the Commissioner the applicant'swritten irrevocable consent that any action against the applicant may becommenced against the applicant by service of process on the Commissioner.
(h) A provider orbroker shall provide to the Commissioner new or revised information aboutofficers, ten percent (10%) or more stockholders, partners, directors, members,or designated employees within 20 days after any change in the constituentmembership of that respective category of persons. (2001‑436, s. 3; 2009‑451,s. 21.17(a).)
(a) No person shalloperate as a provider or broker without first obtaining a license from theinsurance regulator of the state of residence of the viator. If there is morethan one viator on a single policy and the viators are residents of differentstates, the viatical settlement shall be governed by the law of the state inwhich the viator having the largest percentage ownership resides or, if theviators hold equal ownership, the state of residence of one viator agreed uponin writing by all viators.
(b) Application for aprovider or broker license shall be made to the Commissioner by the applicanton a form prescribed by the Commissioner, and these applications shall beaccompanied by a fee of five hundred dollars ($500.00).
(c) Licenses may berenewed from year to year on the anniversary date upon payment of the annualrenewal fee of five hundred dollars ($500.00). Failure to pay the fees by therenewal date results in expiration of the license.
(d) The applicant shallprovide information on forms required by the Commissioner. The Commissioner mayrequire the applicant to fully disclose the identity of all stockholders,partners, officers, members, and employees; and the Commissioner may refuse toissue a license in the name of a legal entity if not satisfied that anyofficer, employee, stockholder, partner, or member of the legal entity who maymaterially influence the applicant's conduct meets the standards of this Part.
(e) A license issued toa legal entity authorizes all partners, officers, members, and designatedemployees to act as providers or brokers, as applicable, under the license; andall those persons shall be named in the application and any supplements to theapplication.
(f) Upon the filing ofan application and the payment of the license fee, the Commissioner shallinvestigate each applicant and issue a license if the Commissioner finds thatthe applicant:
(1) If a provider, hasprovided a detailed plan of operation.
(2) Is competent andtrustworthy and intends to act in good faith in the capacity involved by thelicense applied for.
(3) Has a good businessreputation and has had experience, training, or education so as to be qualifiedin the business for which the license is applied.
(4) If a legal entity,provides a certificate of good standing from the state of its domicile.
(g) The Commissionershall not issue a license to a nonresident applicant unless a writtendesignation of an agent for service of process is filed and maintained with theCommissioner or the applicant has filed with the Commissioner the applicant'swritten irrevocable consent that any action against the applicant may becommenced against the applicant by service of process on the Commissioner.
(h) A provider orbroker shall provide to the Commissioner new or revised information aboutofficers, ten percent (10%) or more stockholders, partners, directors, members,or designated employees within 20 days after any change in the constituentmembership of that respective category of persons. (2001‑436, s. 3; 2009‑451,s. 21.17(a).)
(a) No person shalloperate as a provider or broker without first obtaining a license from theinsurance regulator of the state of residence of the viator. If there is morethan one viator on a single policy and the viators are residents of differentstates, the viatical settlement shall be governed by the law of the state inwhich the viator having the largest percentage ownership resides or, if theviators hold equal ownership, the state of residence of one viator agreed uponin writing by all viators.
(b) Application for aprovider or broker license shall be made to the Commissioner by the applicanton a form prescribed by the Commissioner, and these applications shall beaccompanied by a fee of five hundred dollars ($500.00).
(c) Licenses may berenewed from year to year on the anniversary date upon payment of the annualrenewal fee of five hundred dollars ($500.00). Failure to pay the fees by therenewal date results in expiration of the license.
(d) The applicant shallprovide information on forms required by the Commissioner. The Commissioner mayrequire the applicant to fully disclose the identity of all stockholders,partners, officers, members, and employees; and the Commissioner may refuse toissue a license in the name of a legal entity if not satisfied that anyofficer, employee, stockholder, partner, or member of the legal entity who maymaterially influence the applicant's conduct meets the standards of this Part.
(e) A license issued toa legal entity authorizes all partners, officers, members, and designatedemployees to act as providers or brokers, as applicable, under the license; andall those persons shall be named in the application and any supplements to theapplication.
(f) Upon the filing ofan application and the payment of the license fee, the Commissioner shallinvestigate each applicant and issue a license if the Commissioner finds thatthe applicant:
(1) If a provider, hasprovided a detailed plan of operation.
(2) Is competent andtrustworthy and intends to act in good faith in the capacity involved by thelicense applied for.
(3) Has a good businessreputation and has had experience, training, or education so as to be qualifiedin the business for which the license is applied.
(4) If a legal entity,provides a certificate of good standing from the state of its domicile.
(g) The Commissionershall not issue a license to a nonresident applicant unless a writtendesignation of an agent for service of process is filed and maintained with theCommissioner or the applicant has filed with the Commissioner the applicant'swritten irrevocable consent that any action against the applicant may becommenced against the applicant by service of process on the Commissioner.
(h) A provider orbroker shall provide to the Commissioner new or revised information aboutofficers, ten percent (10%) or more stockholders, partners, directors, members,or designated employees within 20 days after any change in the constituentmembership of that respective category of persons. (2001‑436, s. 3; 2009‑451,s. 21.17(a).)
