Ill. Admin. Code tit. 50, § 3701.70 - Prohibited Practices
a) A
viatical settlement provider, viatical settlement broker (or viatical
settlement investment agent) shall obtain from a person that is provided with
patient identifying information a signed affirmation that the person or entity
will not further divulge the information without procuring the express, written
consent of the insured for the disclosure. Notwithstanding the foregoing, if a
viatical settlement provider, viatical settlement broker (or viatical
settlement investment agent) is served with a subpoena and, therefore,
compelled to produce records containing patient identifying information, it
shall notify the viator and the insured in writing at their last known
addresses within 5 business days after receiving notice of the
subpoena.
b) A viatical settlement
provider shall not act also as a viatical settlement broker, whether entitled
to collect a fee directly or indirectly, in the same viatical
settlement.
c) A viatical
settlement broker shall not, without the written agreement of the viator
obtained prior to performing any services in connection with a viatical
settlement, seek or obtain any compensation from the viator.
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