Life Settlement
Where does New York set out prohibited practices in life settlements, apart from the STOLI provision?
Answer and explanation
Answer: D. Section 7814 carries the prohibited practices for life settlements, alongside the STOLI prohibition in section 7815. Section 7802 supplies the definitions, section 7809 governs advertising, and section 7810 governs privacy.Source: N.Y. Ins. Law § 7802 — 7814 read with 7802
More life settlement questions
- How does New York define a life settlement contract?
- How does New York define life expectancy for life settlement purposes?
- What consequence does section 7815 attach to engaging in STOLI?
- What does New York's stranger-originated life insurance provision prohibit?
- What is a financing transaction under New York's life settlement article?
- Which arrangement does New York describe as stranger-originated life insurance?
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