33-20-1303. License application. (1) A person may not act as or purport to be a viatical settlement provider or viatical settlement broker unless licensed as a viatical settlement provider or viatical settlement broker under this part.
     (2) In order to obtain a license to transact business as a viatical settlement provider or as a viatical settlement broker, an applicant shall apply for the license on forms prescribed by the commissioner and shall pay the fee required for the application.
     (3) The commissioner may request biographical, organizational, locational, financial, employment, and other information on the application form that the commissioner determines to be relevant to the evaluation of applications and to the granting of the license. The commissioner may require a statement of the business plan or plan of operation of the applicant. The commissioner shall require an applicant for a viatical settlement provider license to file with the application for the commissioner's approval a copy of the viatical settlement contract that the applicant intends to use in business under the license.
     (4) If an applicant is a corporation, the corporation must be:
     (a) incorporated or organized under the laws of this state; or
     (b) a foreign corporation authorized to transact business in this state.
     (5) If the applicant is a partnership, the partnership must be organized under the laws of this state.

     History: En. Sec. 3, Ch. 298, L. 1997.