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(a) A viatical settlement provider who appoints a viatical settlement broker in this state or relative to a subject resident, located, or to be performed in this state shall execute a written contract that specifically sets out the duties, functions, powers, authority, and compensation of the viatical settlement broker.
(b) A viatical settlement broker may only receive compensation if the compensation is a
(1) fee paid by a client;
(2) combination of a fee paid by a person and a commission paid by a viatical settlement provider who enters into a viatical settlement contact, if the amount of the commission is disclosed to the person; or
(3) commission paid by a viatical settlement provider who enters into the viatical settlement contract.
(c) A viatical settlement broker may not assign, in whole or in part, a contract between the viatical settlement broker and a viatical settlement provider.
History: Eff. 8/25/2002, Register 163
Authority: AS 21.06.090
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Last modified 7/05/2006