NRS 688C.090 “Purchaser of viatical settlements” defined.

152 words·~1 min read·/nv/chapter-688c-viatical-settlements/688c-090

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

1. “Purchaser of viatical settlements” means:

(a)A person who gives a sum of money as consideration for a policy or an interest in the death benefits of a policy;

(b)A person who owns or acquires or is entitled to a beneficial interest in a trust that owns a viatical settlement contract as described in subsection 2 of NRS 687B.040 ; or

(c)A person who is the beneficiary of a policy that has been or will be the subject of a viatical settlement contract, for the purpose of deriving an economic benefit.

2. The term does not include:

(a)A person licensed pursuant to this chapter;

(b)An accredited investor or qualified institutional buyer as defined respectively in Regulation D, Rule 501 or Rule 144A of the Federal Securities Act of 1933, as amended;

(c)A financing agent; or

(d)A special organization.