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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
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 all legislation from the 2022 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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