Sec. 15. (a) A license issued or renewed under this chapter expires on July 1 after its issuance or renewal.

     (b) A viatical settlement provider may renew a license by:

Terms Used In Indiana Code 27-8-19.8-15

  • 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

(1) applying for renewal on forms prescribed by the department; and

(2) paying the renewal fee.

     (c) The department shall adopt rules under IC 4-22-2 to do the following:

(1) Set the renewal fee required by this section.

(2) Set a date before July 1 and before which receipt of a license renewal application can be processed without a lapse in the license.

     (d) A viatical settlement provider that submits an application for renewal after the date set under subsection (c)(2):

(1) is not entitled to have the license renewed before July 1; and

(2) may not act as a viatical settlement provider until the department issues the license renewal, if the department is unable to process the renewal before July 1.

As added by P.L.130-1994, SEC.47 and P.L.116-1994, SEC.70. Amended by P.L.32-1998, SEC.17.

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