"Life Settlements Act"; relating to insurance; regulating life settlements, providing enforcement and prescribing penalties and civil remedies; defining certain terms including stranger originated life insurance (STOLI); specifying certain provider or broker licensure qualification and application requirements, exceptions; authorizing the commissioner of commerce to suspend, revoke or refuse to renew a license under certain conditions; regulating life settlement contracts; specifying certain provider reporting requirements for policies settled during a certain period of time, providing for nondisclosure of identity, exceptions; authorizing the commissioner to examine the business and affairs of any licensee or application for a license; regulating advertising by a broker or provider; specifying certain disclosure requirements; specifying certain general rules for life settlement contracts; authorizing the commissioner to adopt rules regulating the activities and relationships of providers, brokers, insurers and agents and providing for conflict of laws; specifying certain prohibited practices; prohibiting persons from committing fraudulent life settlement acts, interference and participation of convicted felons; imposing penalties; designating violations as unfair trade practices; repealing certain provisions relating to viatical settlements
(je)