7. Financial responsibility. The following evidence Evidence of financial responsibility must be provided to the superintendent before a license may be issued in accordance with this subsection.

A. A viatical settlement provider shall provide evidence of financial accountability.__Such evidence may include, but is not limited to, a binding and committed lending facility of at least $1,000,000 with a term of at least one year or a net worth in excess of $100,000.

8. Nonresidents. The superintendent may not issue a settlement provider license to a nonresident applicant unless a written designation of an agent for service of process is filed and maintained with the superintendent or the applicant has filed with the superintendent the applicant's written irrevocable consent that any action against the applicant may be commenced against the applicant by service of process on the superintendent.

9. List. The superintendent shall maintain a complete list of all viatical settlement providers licensed or with license pending in this State. The list must be available upon request to the general public.

Sec. 7. 24-A MRSA §6804, as amended by PL 1997, c. 562, Pt. D, §5, is further amended to read:

§6804. License revocation and administrative assessments

1. Superintendent's authority. The superintendent may deny, suspend, revoke or refuse to renew the license of a viatical settlement provider if the superintendent finds just cause to do so, which may include, but is not limited to, a finding that:

A. There was any material misrepresentation in the application for the license or other information submitted to the superintendent;

B. The licensee or any officer, partner or key management personnel of the licensee has been convicted of fraudulent or dishonest practices, is subject to a final administrative action to suspend or revoke a viatical license or is otherwise shown to be untrustworthy or incompetent to act as a viatical settlement provider or viatical settlement broker;