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§ 8-605. Fiduciary duty of viatical settlement broker to viator

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 8. Entities that Act as Insurers
Subtitle 6. Viatical Settlement Providers and Viatical Settlement Brokers (Refs & Annos)
MD Code, Insurance, § 8-605
§ 8-605. Fiduciary duty of viatical settlement broker to viator
Currentness
In general
(a) Notwithstanding the manner in which the viatical settlement broker is compensated, a viatical settlement broker is deemed to represent only the viator and owes a fiduciary duty to the viator to act according to the viator's instructions and in the best interest of the viator.
Restrictions relating to viators
(b) For purposes of this subtitle, a viator may not be limited to an owner or certificate holder of a policy that insures the life of an individual who is terminally ill or chronically ill.

Credits

Added by Acts 2004, c. 275, § 1, eff. Oct. 1, 2004.
MD Code, Insurance, § 8-605, MD INSURANCE § 8-605
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document