Florida Regulations 69O-204.020: Definitions
Current as of: 2024 | Check for updates
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In addition to the definitions in Florida Statutes § 626.9911, the following definitions apply to this regulation:
(1) “”Control”” or “”effective control”” as used in the Viatical Settlement Act and this rule chapter means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a person.
(2) “”Secondary market”” means the assignment, transfer, sale, devise, or bequest of the death benefit or ownership of all or a portion of a viaticated life insurance policy or viaticated certificate of insurance.
Rulemaking Authority 626.9925 FS. Law Implemented 626.9911(2), 626.9912(4), 626.9913(2), 626.9922(2), 626.9924 FS. History-New 3-4-09.
Terms Used In Florida Regulations 69O-204.020
- Bequest: Property gifted by will.
- Devise: To gift property by will.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
(2) “”Secondary market”” means the assignment, transfer, sale, devise, or bequest of the death benefit or ownership of all or a portion of a viaticated life insurance policy or viaticated certificate of insurance.
Rulemaking Authority 626.9925 FS. Law Implemented 626.9911(2), 626.9912(4), 626.9913(2), 626.9922(2), 626.9924 FS. History-New 3-4-09.