Current through 2024-46, November 13, 2024
Section 031-931-7 - General RulesA. Payment of the proceeds to the viator pursuant to a settlement contract must be made in a lump sum. The settlement provider, settlement producer, trustee, or escrow agent may not retain any portion of the viator's proceeds.B. A settlement provider or settlement producer must obtain from a person or entity that is provided with patient identifying information concerning an applicant or viator a signed affirmation that the person or entity will not further divulge the information without first procuring the express written consent of the insured in each instance in which the information is to be divulged. Notwithstanding the foregoing, if a settlement provider or settlement producer is served with a subpoena by a court or administrative officer with jurisdiction over the matter and compelled to produce records containing patient identifying information, it shall notify the viator and the insured within five (5) business days after receiving notice of the subpoena.C. The standards related to advertising found in Section 9 of this rule and in 24-A M.R.S.A. §6817 applicable to viatical and life settlements must be followed.02-031 C.M.R. ch. 931, § 7