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Title 3 . Commerce, Community, and Economic Development
Chapter 31 . Miscellaneous
Section 310. Appointment of a viatical settlement representative

3 AAC 31.310. Appointment of a viatical settlement representative

(a) A licensed viatical settlement provider or a viatical settlement broker shall appoint a viatical settlement representative on forms prescribed by the director within 10 days after the viatical settlement representative first acts or aids in any manner in a viatical settlement transaction.

(b) A viatical settlement representative that is licensed and acts solely on behalf of a licensed viatical settlement representative firm is not required also to have an appointment under (a) of this section.

(c) If the director approves an appointment, based on whether the viatical settlement representative to be appointed has a license in good standing, the director will provide acknowledgement of the appointment and the effective date of the appointment to the person making the appointment and to the appointee.

(d) Within 30 days after receipt of the acknowledgment under (c) of this section, the person making the appointment and the appointee shall notify the director of any error in the acknowledgment.

(e) If either party revokes or terminates an appointment, the appointing viatical settlement provider or viatical settlement broker shall notify the director of the revocation or termination within 30 days after the revocation or termination, and shall provide a statement of the reasons for revocation or termination.

History: Eff. 8/25/2002, Register 163

Authority: AS 21.06.090

AS 21.89.110

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Last modified 7/05/2006