LD 1907
pg. 34
Page 33 of 38 An Act To Govern and Regulate Life Settlements Page 35 of 38
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LR 2724
Item 1

 
fraudulent viatical or life settlement act is being, will be or has
been committed shall provide to the superintendent the information
required by, and in a manner prescribed by, the superintendent.__
Any other person having knowledge or a reasonable belief that a
fraudulent viatical or life settlement act is being, will be or has
been committed may provide to the superintendent the information
required by, and in a manner prescribed by, the superintendent.

 
4.__Immunity from liability.__Except as provided in subsection
5, civil liability may not be imposed on and a cause of action
may not arise from a person's furnishing information concerning
suspected, anticipated or completed fraudulent viatical or life
settlement acts or suspected or completed fraudulent insurance
acts if the information is provided to or received from:

 
A. The superintendent or the superintendent's employees,
agents or representatives;

 
B. Federal, state or local law enforcement or regulatory
officials or their employees, agents or representatives;

 
C.__The National Association of Insurance Commissioners or
its successor organization, National Association of
Securities Dealers or its successor organization, the North
American Securities Administrators Association or its
successor organization, or their employees, agents or
representatives of these organization, or other regulatory
body overseeing life insurance, settlements securities or
investment fraud;

 
D. A person involved in the prevention and detection of
fraudulent viatical or life settlement acts or that person's
agents, employees or representatives; or

 
E.__The life insurer that issued the life insurance policy
covering the life of the insured.

 
5.__Exception.__The following provisions apply to the
imposition of civil liability arising from information provided
to or received from the superintendent or the superintendent's
employees, agents or representatives.

 
A. Subsection 4 does not apply to statements made with actual
malice. In an action brought against a person for filing a report
or furnishing other information concerning a fraudulent viatical
or life settlement act or a fraudulent insurance act, the party
bringing the action shall plead specifically any allegation that
subsection 4


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