31A-36-112 - Advertising regulations. - Utah Statutes

31A-36-112. Advertising regulations.
(1) (a) A life settlement provider or life settlement producer shall establish andcontinuously maintain a system of control over the content, form, and method of disseminationof advertisements of the life settlement provider's or life settlement producer's contracts andservices.
(b) An advertisement is the responsibility of the life settlement provider or life settlementproducer as well as the person that creates or presents the advertisement.
(c) A system of control must include at least annual notification to persons authorized bythe life settlement provider or life settlement producer that disseminate advertisements of therequirements and procedures for approval before use of any advertisements not furnished by thelife settlement provider or life settlement producer.
(2) An advertisement must be truthful and not misleading in fact or by implication, asdetermined by the commissioner from the overall impression it may reasonably be expected tocreate upon a person of average education or intelligence in the segment of the public to which itis directed.
(3) A false or misleading statement is not remedied by:
(a) making a life settlement available for inspection before it is consummated; or
(b) offering to refund payment if the owner is not satisfied within the period prescribedin Subsection 31A-36-109(7).

Amended by Chapter 355, 2009 General Session