Utah Admin. Code R590-222-13 - Prohibited Practices
(1)
(a) A life settlement provider or life
settlement producer shall obtain from a person, who is provided with patient
identifying information, a signed affirmation that the person will not further
divulge the patient identifying information without procuring the express,
written consent of the insured for the disclosure.
(b) Notwithstanding Subsection (1)(a), if a
life settlement provider or a life settlement producer produces records
containing patient identifying information pursuant to a subpoena, the owner
and the insured shall be notified, in writing, at their last known addresses
and within five business days after receiving notice of the subpoena.
(2) A life settlement provider may
not act as a life settlement producer in the same life settlement, whether
entitled to collect a fee directly or indirectly.
(3) A life settlement producer may not seek
or obtain compensation from the owner without first obtaining the owner's
written agreement before performing a service in connection with a life
settlement.
(4) A life settlement
provider or life settlement producer may not unfairly discriminate in the
making or soliciting of life settlements, or discriminate between owners with
dependents and without dependents.
(5) A life settlement provider or life
settlement producer may not pay or offer to pay a finder's fee, commission, or
other compensation to an insured's physician, attorney, accountant, or another
person providing medical, legal, or financial planning services to the owner or
to a person acting as an agent of the owner, other than a life settlement
producer, regarding the life settlement.
Notes
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