Section 11. Responsibility of department.
The commissioner may:
(1) Promulgate regulations pursuant to this act.
(2) Establish standards for evaluating reasonableness of payments under viatical settlement contracts.
(3) Establish appropriate licensing requirements and standards for continued licensure for viatical settlement providers and brokers.
(4) Adopt rules governing the duties and responsibilities of insurers, viatical settlement providers and brokers during the viatication of a life insurance policy or certificate.
(5) Adopt rules governing advertising by viatical settlement providers and viatical settlement brokers.