Ch. 275                                    2004 LAWS OF MARYLAND

(IV)    IF THE POLICY TO BE VIATICATED HAS BEEN ISSUED AS A
JOINT POLICY OR INVOLVES FAMILY RIDERS OR ANY COVERAGE OF A LIFE OTHER
THAN THE INSURED UNDER THE POLICY TO BE VIATICATED, THE VIATOR SHALL BE
INFORMED OF THE POSSIBLE LOSS OF COVERAGE ON THE OTHER LIVES UNDER THE
POLICY AND SHALL BE ADVISED TO CONSULT WITH AN INSURANCE PRODUCER OR
THE INSURER ISSUING THE POLICY FOR ADVICE ON THE PROPOSED VIATICAL
SETTLEMENT;

(V)     1. THE DOLLAR AMOUNT OF THE CURRENT DEATH BENEFIT
PAYABLE TO THE VIATICAL SETTLEMENT PROVIDER UNDER THE POLICY; AND

2. IF KNOWN, THE AVAILABILITY OF ANY ADDITIONAL
GUARANTEED INSURANCE BENEFITS, THE DOLLAR AMOUNT OF ANY ACCIDENTAL
DEATH AND DISMEMBERMENT BENEFITS UNDER THE POLICY, AND THE VIATICAL
SETTLEMENT PROVIDER'S INTEREST IN THOSE BENEFITS; AND

(VI)    1. THE NAME, BUSINESS ADDRESS, AND TELEPHONE
NUMBER OF THE INDEPENDENT THIRD PARTY ESCROW AGENT; AND

2. THE FACT THAT THE VIATOR OR OWNER MAY INSPECT OR
RECEIVE COPIES OF THE RELEVANT ESCROW OR TRUST AGREEMENTS OR
DOCUMENTS.

(G) IF THE VIATICAL SETTLEMENT PROVIDER TRANSFERS OWNERSHIP OR
CHANGES THE BENEFICIARY OF THE POLICY, THE VIATICAL SETTLEMENT PROVIDER
SHALL COMMUNICATE THE CHANGE IN OWNERSHIP OR BENEFICIARY TO THE
INSURED WITHIN 20 DAYS AFTER THE CHANGE.

8-607.

(A)     A REGISTRATION EXPIRES AT THE END OF EVERY OTHER YEAR ON THE
ANNIVERSARY OF THE REGISTRATION UNLESS IT IS RENEWED AS PROVIDED IN THIS
SECTION.

(B)     BEFORE A REGISTRATION EXPIRES, THE REGISTRANT MAY RENEW IT FOR
AN ADDITIONAL 2-YEAR TERM, IF THE REGISTRANT:

(1)      OTHERWISE IS ENTITLED TO BE REGISTERED;

(2)      FILES WITH THE COMMISSIONER A RENEWAL APPLICATION ON THE
FORM THAT THE COMMISSIONER REQUIRES; AND

(3)      PAYS TO THE COMMISSIONER A RENEWAL FEE OF $50.

(C)     AN APPLICATION FOR RENEWAL OF A REGISTRATION SHALL BE
CONSIDERED MADE IN A TIMELY MANNER IF IT IS POSTMARKED ON OR BEFORE THE
ANNIVERSARY DATE OF THE REGISTRATION OF THE YEAR OF RENEWAL.

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