ROBERT L. EHRLICH, JR., Governor                             Ch. 275

(I)      THE VIATICAL SETTLEMENT PROVIDER IS RESPONSIBLE FOR
ENSURING COMPLIANCE WITH ALL STATUTORY AND REGULATORY REQUIREMENTS;
AND

(II)     THE TRUST AGREES TO MAKE ALL RECORDS AND FILES
RELATED TO VIATICAL SETTLEMENT TRANSACTIONS AVAILABLE TO THE
COMMISSIONER AS IF THOSE RECORDS AND FILES WERE MAINTAINED DIRECTLY BY
THE REGISTERED VIATICAL SETTLEMENT PROVIDER

(H) (I) "SPECIAL PURPOSE ENTITY" MEANS A CORPORATION, PARTNERSHIP,
TRUST, LIMITED LIABILITY COMPANY, OR OTHER SIMILAR ENTITY FORMED SOLELY
TO PROVIDE, EITHER DIRECTLY OR INDIRECTLY, ACCESS TO INSTITUTIONAL CAPITAL
MARKETS FOR A FINANCING ENTITY OR A REGISTERED VIATICAL SETTLEMENT
PROVIDER

(I) (J) "TERMINALLY ILL" MEANS THAT AN INDIVIDUAL HAS AN ILLNESS OR
SICKNESS THAT CAN REASONABLY BE EXPECTED TO RESULT IN DEATH IN 24
MONTHS OR LESS.

(J) (K) (1) "VIATICAL SETTLEMENT BROKER" MEANS A PERSON THAT AN
INSURANCE PRODUCER WHO:

(I) IS LICENSED UNDER TITLE 10, SUBTITLE 1 OF THIS ARTICLE TO
SELL LIFE INSURANCE; AND

(II) 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.

(2) "VIATICAL SETTLEMENT BROKER" DOES NOT INCLUDE:

(I) AN ATTORNEY, CERTIFIED PUBLIC ACCOUNTANT, OR
FINANCIAL PLANNER ACCREDITED BY A NATIONALLY RECOGNIZED ACCREDITATION
AGENCY, WHO IS RETAINED TO REPRESENT THE VIATOR AND WHOSE
COMPENSATION IS NOT PAID DIRECTLY OR INDIRECTLY BY THE VIATICAL
SETTLEMENT PROVIDER; OR

(II) AN INDIVIDUAL WHO, ON BEHALF OF A VIATOR AND FOR A FEE,
COMMISSION, OR OTHER VALUABLE CONSIDERATION, OFFERS OR ATTEMPTS TO
NEGOTIATE NO MORE THAN ONE VIATICAL SETTLEMENT CONTRACT BETWEEN A
VIATOR AND ONE OR MORE VIATICAL SETTLEMENT PROVIDERS IN A CALENDAR

YEAR.

(K) (L) (1) "VIATICAL SETTLEMENT CONTRACT" MEANS A WRITTEN
AGREEMENT THAT ESTABLISHES THE TERMS UNDER WHICH COMPENSATION OR
ANYTHING OF VALUE WILL BE PAID, WHICH COMPENSATION OR VALUE IS LESS
THAN THE EXPECTED DEATH BENEFIT OF THE POLICY, IN RETURN FOR THE
VIATOR'S ASSIGNMENT, TRANSFER, SALE, DEVISE, OR BEQUEST OF THE DEATH
BENEFIT OR OWNERSHIP OF ANY PART OF THE POLICY.

(2) "VIATICAL SETTLEMENT CONTRACT" INCLUDES:

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