Close Close
ThinkAdvisor

Life Health > Life Insurance > Life Settlements

North Carolina Moves Viatical Bill Forward

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, Aug. 17, 2:59 p.m. – The North Carolina Senate Insurance and Consumer Protection Committee is pondering H.B. 359, a bill that would rewrite the state viatical settlements law to conform to a model law approved last year by the National Association of Insurance Commissioners, Kansas City, Mo.

The bill, cosponsored by Reps. Jerry C. Dockham, R-Raleigh, and John Hurley, D-Raleigh, would, among other things, require companies offering viatical settlements to file annual financial statements, disclose possible alternatives to viatical settlements and provide an unconditional refund provision.

More on this topic

The bill originated with the House Finance Committee. The House passed an amended version of the original bill Aug. 8.

More information about the bill is available on the North Carolina General Assembly Web site, at http://www.ncga.state.nc.us/gascripts/billnumber/billnumber.pl?Session=2001&BillID=h359