Kansas Statutes 40-5016. Same; continuation of preexisting viatical settlement business
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Terms Used In Kansas Statutes 40-5016
- Commissioner: means the commissioner of insurance. See Kansas Statutes 40-5002
- 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.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
- Viatical settlement broker: means a person that on behalf of a viator and for a fee, commission or other valuable consideration offers or attempts to negotiate viatical settlement contracts between a viator and one or more viatical settlement providers. See Kansas Statutes 40-5002
- Viatical settlement provider: means a person, other than a viator, who enters into or effectuates a viatical settlement contract. See Kansas Statutes 40-5002
A viatical settlement provider or viatical settlement broker transacting business in this state may continue to do so pending approval or disapproval of the viatical settlement provider or viatical settlement broker’s application for a license as long as the application is filed with the commissioner by July 1, 2002.