Regulation and Life Settlement Bill update from the state of Illinois.

This will go in effect on July 1, 2010, start your preperations today.

Somethings covered are:

• Provides for the regulation of viatical settlement providers, brokers, and life insurance producers acting as brokers who enter into viatical settlements.
• Sets forth license and bond requirements for viatical settlement providers and viatical settlement brokers.
• Sets forth requirements for initial and ongoing viatical settlement broker training.
• Provides that the Director of Insurance may refuse to issue or renew or may suspend or revoke the license of any viatical settlement provider based upon certain findings.

And more….

Read complete bill: Illinois Life Settlement Bill SB2091