Title 17B, Title 17B: INSURANCE

17B:30B-13 Injunction in addition to penalties, enforcement provisions. 13. a. In addition to the penalties and other enforcement provisions of this act, if any person violates this act or any regulation implementing this act, the commissioner may seek an injunction in a court of…

17B:30B-14 Violation considered unfair trade practice; penalties. 14. A violation of this act shall be considered an unfair trade practice pursuant to N.J.S.17B:30-1 et seq. and shall be subject to the penalties contained in N.J.S.17B:30-17. L.2005,c.229,s.14.

17B:30B-15 Regulations, authority of commissioner. 15. The commissioner shall have the authority to promulgate regulations implementing the provisions of this act pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.) including, but not limited to, t…

17B:30B-16 Construction of act with Uniform Securities Law. 16. Nothing in this act shall be construed to preempt or otherwise limit the provisions of the "Uniform Securities Law (1967)," P.L.1967, c.93 (C.49:3-47 et seq.) or any regulations, orders, policy statements, notices, b…

17B:30B-17 Continuation of negotiating viatical settlements, certain circumstances prior to act. 17. a. Notwithstanding the provisions of sections 1 through 16 of this act, a person who has lawfully negotiated viatical settlement contracts between a viator and one or more viatica…

17B:30B-18 Engaging in stranger-originated life insurance prohibited. 1. a. No person shall directly or indirectly engage in any act, practice or arrangement that constitutes stranger-originated life insurance. b. A contract, agreement, arrangement, or transaction, including, but…

17B:30B-19 Violations, remedies, penalties. 2. a. The Commissioner of Banking and Insurance may seek an injunction in a court of competent jurisdiction and may apply for temporary and permanent orders that the commissioner determines are necessary to restrain the person from comm…

17B:30B-2 Definitions relative to viatical settlements. 2. As used in this act: "Advertising" means any written, electronic or printed communication or any communication by means of recorded telephone messages or transmitted on radio, television, the Internet or similar communica…

17B:30B-20 Regulations. 3. The Commissioner of Banking and Insurance shall promulgate regulations implementing the provisions of this act pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.). L.2020, c.105, s.3.

17B:30B-3 License to operate as viatical settlement provider. 3. a. A person shall not operate as a viatical settlement provider without first obtaining a license from the commissioner of the state of residence of the viator. b. (1) No person shall act on behalf of a viator resid…

17B:30B-4 Refusal to issue, suspension, revocation, refusal to renew license. 4. a. The commissioner may refuse to issue, suspend, revoke or refuse to renew the license of a viatical settlement provider, if the commissioner finds that: (1) There was any material misrepresentation…

17B:30B-5 Approval of viatical settlement forms by commissioner. 5. A person shall not use a viatical settlement contract form or provide a disclosure statement or application form to a viator in this State unless it has been filed with and approved by the commissioner. The commi…

17B:30B-6 Filing of annual statement. 6. a. Each viatical settlement provider licensee shall file with the commissioner on or before March 1 of each year an annual statement containing that information which the commissioner by regulation may prescribe. This information is limite…

17B:30B-7 Examinations of licensees by commissioner. 7. a. (1) The commissioner may conduct an examination of a licensee under this act as often as the commissioner, in his sole discretion, deems appropriate. (2) For purposes of completing an examination of a licensee under this …

17B:30B-8 Disclosures to viator, procedure. 8. a. With each application for a viatical settlement, a viatical settlement provider or life insurance producer shall provide the viator with at least the following disclosures no later than the time the application for the viatical se…

17B:30B-9 Material required prior to entering into viatical settlement contract. 9. a. (1) A viatical settlement provider entering into a viatical settlement contract shall first obtain: (a) If the viator is the insured, a written statement from a licensed attending physician tha…