2013 New York Consolidated Laws
ISC - Insurance
Article 78 - (7801 - 7820) LIFE SETTLEMENTS
7806 - Life settlement contract forms.

 
    §   7806.  Life  settlement  contract  forms.  (a)  No  licensed  life
  settlement provider shall enter into a life settlement contract  subject
  to  this  chapter  unless the life settlement contract form, application
  form, and any other form as may be prescribed by  regulation,  has  been
  filed  with  and  approved by the superintendent. The superintendent may
  disapprove any such form if the superintendent finds  the  form  or  any
  provisions  contained therein to be unreasonable, contrary to law or the
  interests of the people  of  this  state,  or  otherwise  misleading  or
  unfair.
    (b)  Whenever,  by  the provisions of this chapter, the superintendent
  has approved any life settlement contract form, application form, or any
  other form, the superintendent may, after notice and  hearing  given  to
  the  life  settlement  provider  that  submitted  the form for approval,
  withdraw an approval previously given if:
    (1) the use of the form is contrary to the requirements applicable  to
  the form at the time of such withdrawal, or
    (2) it contains provisions that are unjust, unfair or inequitable.
    Any  withdrawal  of  approval  shall be effective at the expiration of
  such period, at  least  ninety  days  after  the  giving  of  notice  of
  withdrawal or as the superintendent shall in such notice prescribe.