SOURCE: Page 10, line 36; (06)MO035601.10. -->
Page 10, line 36, delete "viatical settlement contract, the subject of
which is a" and insert "
:
(A) policy; or
(B) viatical settlement contract, the subject of which is a
policy;".
Page 10, delete lines 37 through 41.
Page 10, line 42, before "where" insert "
that was obtained by
presenting false information concerning a fact material to the
policy or concealing, for the purpose of misleading another,
information concerning a fact material to the policy".
Page 10, line 42, delete "viator or the viator's agent" and insert
"
person".
Page 11, line 1, delete "policy." and insert "
policy, a viatical
settlement provider, or a viator.".
Page 11, line 2, delete "Facilitating the change of state of residency
of a policy or" and insert "
Facilitating, directly or indirectly, a
change of the state of ownership of a policy or the state of residency
of".
Page 11, line 4, after "(6)" insert "
Facilitating, directly or
indirectly, the issuance of a policy that:
(1) covers an insured who is a resident of Indiana; and
(2) is owned by a policy owner in another state;
to avoid the provisions of this chapter.
(7)".
Page 11, line 6, delete "(5)." and insert "
(6).".
Page 13, between lines 37 and 38, begin a new paragraph and insert:
"
(b) The term includes an agreement under which an insured or
a viator or the designee of an insured or a viator receives or will
receive:
(1) in exchange for the designation or consent to assignment
or transfer for the ownership or beneficiary interest in a
policy; and
(2) regardless of the date that the consideration is provided to
the person or the transfer or assignment occurs;
consideration.".
Page 13, line 38, delete "(b)" and insert " (c)".
Page 35, line 40, after "crime" and insert " of fraud (IC 35-43-5)".
Page 37, line 15, after "contract" insert " at any time before the
application or issuance of a policy that is the subject of the viatical
settlement contract, or".
Page 37, line 16, after "policy" insert " ,".
(Reference is to SB 356 as printed January 30, 2006.)
________________________________________
Senator STEELE