Section 3 AAC 31.330 - Viatical settlement broker contracts(a) A viatical settlement provider who appoints a viatical settlement broker in this state or relative to a subject resident, located, or to be performed in this state shall execute a written contract that specifically sets out the duties, functions, powers, authority, and compensation of the viatical settlement broker.(b) A viatical settlement broker may only receive compensation if the compensation is a (1) fee paid by a client;(2) combination of a fee paid by a person and a commission paid by a viatical settlement provider who enters into a viatical settlement contact, if the amount of the commission is disclosed to the person; or(3) commission paid by a viatical settlement provider who enters into the viatical settlement contract.(c) A viatical settlement broker may not assign, in whole or in part, a contract between the viatical settlement broker and a viatical settlement provider.Eff. 8/25/2002, Register 163In 2010 the revisor of statutes, acting under AS 01.05.031, renumbered former AS 21.89.110 as AS 21.96.110. As of Register 196 (January 2011), the regulations attorney made a conforming technical revision under AS 44.62.125(b)(6), to the authority citation that follows 3 AAC 31.330, so that the citation to former AS 21.89.110 now refers to the renumbered statute, AS 21.96.110.
Authority:AS 21.06.090
AS 21.96.110