Nev. Rev. Stat. § 688C.090

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 688C.090 - "Purchaser of viatical settlements" defined

1. "Purchaser of viatical settlements" means:

(a) A person who gives a sum of money as consideration for a policy or an interest in the death benefits of a policy;

(b) A person who owns or acquires or is entitled to a beneficial interest in a trust that owns a viatical settlement contract as described in subsection 2 of 687B.040; or

(c) A person who is the beneficiary of a policy that has been or will be the subject of a viatical settlement contract, for the purpose of deriving an economic benefit.

2. The term does not include:

(a) A person licensed pursuant to this chapter;

(b) An accredited investor or qualified institutional buyer as defined respectively in Regulation D, Rule 501 or Rule 144A of the Federal Securities Act of 1933, as amended;

(c) A financing agent; or

(d) A special organization.

NRS 688C.090

Added to NRS by 2001, 2168; A 2009, 1791