The commissioner may suspend, revoke, or refuse to renew the license of a viatical settlement provider if the commissioner finds that:
(1) there was any misrepresentation in the application for the license;
(2) the holder of the license has been found guilty of fraudulent or dishonest practices, is subject to a final administrative action or is otherwise shown to be untrustworthy or incompetent to act as a viatical settlement provider;
(3) the licensee demonstrates a pattern of unreasonable payments to policy owners;
(4) the licensee has been convicted of a felony or a misdemeanor of which criminal fraud is an element; or
(5) the licensee has violated any of the provisions of sections 60A.961 to 60A.974.
Official Publication of the State of Minnesota
Revisor of Statutes