Section R590-222-13 - Prohibited Practices(1)(a) A life settlement provider or life settlement producer shall obtain from a person, who is provided with patient identifying information, a signed affirmation that the person will not further divulge the patient identifying information without procuring the express, written consent of the insured for the disclosure.(b) Notwithstanding Subsection (1)(a), if a life settlement provider or a life settlement producer produces records containing patient identifying information pursuant to a subpoena, the owner and the insured shall be notified, in writing, at their last known addresses and within five business days after receiving notice of the subpoena.(2) A life settlement provider may not act as a life settlement producer in the same life settlement, whether entitled to collect a fee directly or indirectly.(3) A life settlement producer may not seek or obtain compensation from the owner without first obtaining the owner's written agreement before performing a service in connection with a life settlement.(4) A life settlement provider or life settlement producer may not unfairly discriminate in the making or soliciting of life settlements, or discriminate between owners with dependents and without dependents.(5) A life settlement provider or life settlement producer may not pay or offer to pay a finder's fee, commission, or other compensation to an insured's physician, attorney, accountant, or another person providing medical, legal, or financial planning services to the owner or to a person acting as an agent of the owner, other than a life settlement producer, regarding the life settlement.Utah Admin. Code R590-222-13
Amended by Utah State Bulletin Number 2023-15, effective 7/25/2023