Ill. Admin. Code tit. 50 § 3701.40

Current through Register Vol. 48, No. 39, September 27, 2024

Section 3701.40 - Filing Procedures for Viatical Settlement Brokers

a) Forms Review. Each viatical settlement broker shall file with the Director for approval each new viatical settlement broker form before it is issued or delivered. Each filing shall be submitted directly through SERFF. The filing shall include each of the following:

1) A letter of submission giving a detailed description of the purpose for the viatical settlement broker forms and the manner in which they will be marketed;

2) The viatical settlement broker forms. The text of each viatical settlement broker form shall reflect the bracketing of any appropriate variable material. The form number shall appear in the lower left-hand corner of the policy form to be approved and shall not exceed 30 characters.

b) Filing Fee. The viatical settlement broker will pay $50 per form as provided for in Section 408 of the Code. Billable forms are viatical settlement broker applications.

Ill. Admin. Code tit. 50, § 3701.40

Recodified from 5701.40 at 42 Ill. Reg. 16457