688C.170 - Regulations of Commissioner. - Nevada Statutes

688C.170  Regulations of Commissioner.  The Commissioner may adopt regulations to:

      1.  Establish standards for evaluating the reasonableness of payments under viatical settlements to persons chronically or terminally ill, including the regulation of the rates of discount used to determine the amount paid in exchange for an assignment, transfer, sale or devise of a benefit under a policy.

      2.  Require a bond or otherwise ensure financial accountability of providers and brokers of viatical settlements.

      3.  Govern the relationship of insurers with providers and brokers of viatical settlements during the viatication of a policy.

      4.  Establish standards and requirements for licensing and registering producers of insurance acting as brokers of viatical settlements.

      (Added to NRS by 2001, 2179; A 2005, 2135)