2005 Vermont Code - § 3833. — Authority to promulgate standards

§ 3833. Authority to promulgate standards

The commissioner shall have the authority to:

(1) promulgate regulations implementing this chapter;

(2) establish standards for evaluating the reasonableness of payments under viatical settlement contracts. This authority includes, but is not limited to, regulation of discount rates used to determine the amount paid in exchange for assignment, transfer, sale, devise or bequest of a benefit under a life insurance policy; and

(3) require a bond of any viatical settlement provider or viatical settlement broker licensed under this chapter. (Added 1993, No. 235 (Adj. Sess.), § 4.)