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Industry Spotlight > Broker Dealers

Minnesota's new viatical settlements law: Find it here

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Minnesota’s new viatical settlements law went into effect on August 1, 2009. You can find the law here.

In brief, the law modifies existing statutes and stipulates that a broker or provider now need to be licensed by the state where the person who is selling the life policy resides. It also says that a licensed insurance agent in good standing will be allowed to operate as a viatical settlement broker. In addition, it sets grounds for a license to be suspended or revoked and for refusal to issue or renew the license of the provider, broker or agent.