Senate Bill 2004

    Florida Senate - 1998                                  SB 2004

    By Senator Burt





    16-989A-98

  1                      A bill to be entitled

  2         An act relating to the Viatical Settlement Act;

  3         amending s. 626.9911, F.S.; modifying the

  4         definition of the term "viatical settlement

  5         contract"; providing an effective date.

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  7  Be It Enacted by the Legislature of the State of Florida:

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  9         Section 1.  Subsection (5) of section 626.9911, Florida

10  Statutes, is amended to read:

11         626.9911  Definitions.--As used in this act, the term:

12         (5)  "Viatical settlement contract" means a written

13  settlement entered into between a viatical settlement

14  provider, or a trust established by a viatical settlement

15  provider, and a viator. Such viatical settlement provider or

16  trust may be the owner or absolute assignee of the insurance

17  policies ultimately involved with the viatical settlement

18  contract. The agreement must establish the terms under which

19  the viatical settlement provider will pay compensation or

20  anything of value.

21         Section 2.  This act shall take effect July 1, 1998.

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24                          SENATE SUMMARY

25    Modifies the definition of the term "viatical settlement
      contract" for purposes of the Viatical Settlement Act.
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