Indiana Code 27-8-19.8-11. Investigation of applicant; issuance of license
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Sec. 11. The department shall investigate an applicant and issue a license to the applicant if the department finds all of the following:
(2) The applicant has a good business reputation.
(1) The applicant is competent and trustworthy and intends to act in good faith as a viatical settlement provider.
Terms Used In Indiana Code 27-8-19.8-11
- applicant: refers to a person that applies for a viatical settlement provider license under this chapter. See Indiana Code 27-8-19.8-1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- department: refers to the department of insurance. See Indiana Code 27-8-19.8-2
- 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.
- viatical settlement provider: means a person, other than a viator, that:
Indiana Code 27-8-19.8-5
(3) The applicant has had the experience, training, or education to qualify the applicant as a viatical settlement provider.
(4) If the applicant is a corporation, or limited liability corporation, it is either:
(A) incorporated under Indiana law; or
(B) authorized to do business in Indiana.
As added by P.L.130-1994, SEC.47 and P.L.116-1994, SEC.70. Amended by P.L.32-1998, SEC.15.