Indiana Code 27-8-19.8-24.7. Disclosure of identity of viator
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Sec. 24.7. Except as otherwise provided by law, a person with actual knowledge of a viator‘s identity may not disclose that identity to another person unless the disclosure is:
(2) provided in response to an investigation by the commissioner or other governmental officer or agency; or
(1) necessary to effect a viatical settlement contract and the viator has provided written consent to the disclosure;
Terms Used In Indiana Code 27-8-19.8-24.7
- Contract: A legal written agreement that becomes binding when signed.
- person: means an individual, an association, a corporation, a limited liability corporation, an estate, a partnership, a trust, or any other business or legal entity. See Indiana Code 27-8-19.8-7
- 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 contract: means an agreement for the purchase, sale, assignment, transfer, devise, or bequest of a portion of the death benefit or ownership of a life insurance policy or contract for consideration that is less than the expected death benefit of the life insurance policy or contract. See Indiana Code 27-8-19.8-6
- viatical settlement provider: means a person, other than a viator, that:
Indiana Code 27-8-19.8-5
- viaticated policy: means a life insurance policy or certificate that has been acquired by a viatical settlement provider under a viatical settlement contract. See Indiana Code 27-8-19.8-6.5
- viator: refers to the owner of a life insurance policy or a certificate holder under a group policy that insures the life of an insured who enters or seeks to enter into a viatical settlement contract. See Indiana Code 27-8-19.8-8
(3) in connection with a transfer of a viatical settlement contract or viaticated policy to another licensed viatical settlement provider or to an entity that provides financing to effect the viatical settlement contract under a written agreement with a licensed viatical settlement provider.
As added by P.L.32-1998, SEC.27.