688C.080 - “Provider of viatical settlements” defined. - Nevada Statutes

688C.080  “Provider of viatical settlements” defined.  “Provider of viatical settlements” means a person other than a viator who enters into or effectuates a viatical settlement. The term does not include:

      1.  A bank, savings and loan association, thrift company, credit union or other licensed lender that takes an assignment of a policy as security for a loan;

      2.  The issuer of a policy that provides accelerated benefits pursuant to the contract;

      3.  An authorized or eligible insurer that provides stop-loss coverage to a provider or purchaser of viatical settlements;

      4.  A natural person who enters into no more than one agreement in a calendar year for the transfer of policies for a value less than the expected death benefit;

      5.  A financing agent;

      6.  A special organization; or

      7.  A purchaser of viatical settlements.

      (Added to NRS by 2001, 2167; A 2009, 1791)