688C.090 - “Purchaser of viatical settlements” defined. - Nevada Statutes

688C.090  “Purchaser of viatical settlements” defined.

      1.  “Purchaser of viatical settlements” means:

      (a) A person who gives a sum of money as consideration for a policy or an interest in the death benefits of a policy;

      (b) A person who owns or acquires or is entitled to a beneficial interest in a trust that owns a viatical settlement contract as described in subsection 2 of NRS 687B.040; or

      (c) A person who is the beneficiary of a policy that has been or will be the subject of a viatical settlement contract, for the purpose of deriving an economic benefit.

      2.  The term does not include:

      (a) A person licensed pursuant to this chapter;

      (b) An accredited investor or qualified institutional buyer as defined respectively in Regulation D, Rule 501 or Rule 144A of the Federal Securities Act of 1933, as amended;

      (c) A financing agent; or

      (d) A special organization.

      (Added to NRS by 2001, 2168; A 2009, 1791)