"AN ACT CONCERNING LIFE SETTLEMENTS. "

In line 65, after "company" insert ", life settlement company or investor"

In line 226, strike "a" and insert "an act," in lieu thereof

In line 226, strike "plan" and insert "arrangement" in lieu thereof

In line 529, after "contract" insert "using a form"

After line 593, insert the following and renumber the remaining sections and internal references accordingly:

"(c) No insurer shall (1) prohibit a life insurance producer or broker from disclosing to a client the availability of a life settlement contract, or (2) include any provision in a life insurance policy that prohibits the lawful assignment of such policy."

In line 597, strike "For any policy settled within five"

In line 598, strike "years of policy issuance, on" and insert "On" in lieu thereof

In line 603, after "to," insert "for any policy settled within five years of policy issuance,"

In line 821, after "broker" strike the closing bracket

In line 821, after "viatical settlement" insert "] or"

In line 1063, after "broker." insert the following: "Failure to provide the disclosures or rights set forth in this section shall be deemed an unfair practice pursuant to section 38a-816 of the general statutes."

In line 1086, strike "trade"

Strike line 1087 in its entirety and insert "section 38a-815." in lieu thereof

Strike lines 1482 to 1496, inclusive, in their entirety and insert in lieu thereof:

"(5) Receive, if providing premium financing, any proceeds, fees or other consideration from the policy or policy owner that are in addition to the amounts required to pay principal, interest or any costs or expenses, which are reasonable in type and amount, incurred by the lender or borrower in connection with such premium finance agreement, except in the event of a default, provided neither default on such loan or the transfer of the policy, in connection with such default, is pursuant to an agreement or understanding with any other person for the purpose of evading regulation under this part. Any payments, charges, fees or other amounts received by a person or entity providing premium financing in violation of this subdivision shall be remitted to the original owner of the policy or to such owner's estate if said original owner is not living at the time of the determination of the overpayment;"

In line 1501, after "broker" insert ", unless such relationship is disclosed to the owner"

In line 1507, after "contract" insert ", unless such relationship is disclosed to the owner"

Strike lines 1781 to 1783, inclusive, in their entirety.

After the last section, add the following and renumber sections and internal references accordingly:

"Sec. 501. Subdivision (20) of section 38a-816 of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2008):

(20) Any violation of sections 38a-465 to [38a-465m,] 38a-465q, inclusive, as amended by this act. "