§ 27-8-19.8-19 — Suspension, revocation, or refusal to renew license

Indiana § 27-8-19.8-19

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 8: LIFE, ACCIDENT, AND HEALTH
• Ch. 19.8: Viatical Settlements

Text

After a hearing under IC 4-21.5, the
department may suspend, revoke, or refuse to renew a viatical
settlement provider's license, or impose a civil penalty, or both, if the
department finds any of the following:
(1) There was a misrepresentation in the application for the
license.
(2) The viatical settlement provider is untrustworthy or
incompetent to act as a viatical settlement provider.
(3) The viatical settlement provider demonstrates a pattern of
unreasonable payments to viators.
(4) The viatical settlement provider has been convicted of, or
pleaded guilty or nolo contendere to, an offense the definition of
which includes fraudulent acts as an element of the offense
regardless of whether a judgement has been entered by the court.
(5) The viatical settlement provider no longer meets the
requirements for initial licensure.
(6) The viatical settlement provider has failed to honor the
contractual obligations of a viatical settlement contract.
(7) The viatical settlement provider has violated this chapter.

Legislative History

As added by P.L.130-1994, SEC.47 and P.L.116-1994, SEC.70. Amended by P.L.32-1998, SEC.21.