I.__The licensee has violated any of the provisions of this chapter or any rules adopted pursuant to this chapter.

2. Hearing. Before the superintendent may deny a license application or suspend, revoke or refuse to renew the license of a viatical settlement provider, the licensee or applicant has an opportunity for a hearing in accordance with Title 5, chapter 375, subchapter IV 4.

3. Administrative penalty. The superintendent may, in addition to denying a license application or suspending or revoking a license, assess an administrative civil forfeiture of $500 for each willful violation of this chapter. This section may not be construed to diminish the penalties available for any violation of chapter 23, in addition to any penalties authorized under section 12-A.

Sec. 8. 24-A MRSA §6805, as enacted by PL 1997, c. 430, §1 and affected by §2, is amended to read:

§6805. Approval of settlements contracts; disclosure statements

and applications

A viatical settlement provider or independent viatical producer person may not use any contract, disclosure statement or application form in with a viator who is a resident of this State when dealing with a viator unless it has been filed with and approved by the superintendent, pursuant to sections 2412 and 2413. The superintendent shall disapprove a settlement contract form or disclosure statement form if, in the superintendent's opinion, the contract or provisions contained therein are unreasonable, contrary to the interests of the public or otherwise misleading or unfair to the viator.__All such forms must be approved or denied by the superintendent within 60 calendar days following receipt of submission by the superintendent.

Sec. 9. 24-A MRSA §6806, as amended by PL 1997, c. 592, §81, is further amended to read:

§6806. Reporting requirements; confidentiality of information

1. Annual report. A settlement provider licensee shall file with the superintendent by March 1st of each year an annual statement containing such information as the superintendent