§ 27-72-18. Effective date.
(a) A provider lawfully transacting business in this state prior to the effective date
of this act may continue to do so pending approval or disapproval of that person's
application for a license as long as the application is filed with the commissioner
not later than thirty (30) days after publication by the commissioner of an application
form and instructions for licensure of providers. If the publication of the application
form and instructions is prior to the effective date of this act, then the filing
of the application shall not be later than thirty (30) days after the effective date
of this act.
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§ 27-72-18. Effective date.
(a) A provider lawfully transacting business in this state prior to the effective date
of this act may continue to do so pending approval or disapproval of that person's
application for a license as long as the application is filed with the commissioner
not later than thirty (30) days after publication by the commissioner of an application
form and instructions for licensure of providers. If the publication of the application
form and instructions is prior to the effective date of this act, then the filing
of the application shall not be later than thirty (30) days after the effective date
of this act. During the time that such an application is pending with the commissioner,
the applicant may use any form of life settlement contract that has been filed with
the commissioner pending approval thereof, provided that such form is otherwise in
compliance with the provisions of this chapter. Any person transacting business in
this state under this provision shall be obligated to comply with all other requirements
of this chapter.
(b) A person who has lawfully negotiated life settlement contracts between any owner residing
in this state and one or more providers for at least one year immediately prior to
the effective date of this act may continue to do so pending approval or disapproval
of that person's application for a license as long as the application is filed with
the commissioner not later than thirty (30) days after publication by the commissioner
of an application form and instructions for licensure of brokers. If the publication
of the application form and instructions is prior to the effective date of this chapter,
then the filing of the application shall not be later than thirty (30) days after
the effective date of this act. Any person transacting business in this state under
this provision shall be obligated to comply with all other requirements of this chapter.