Notwithstanding the manner in which the life settlement broker is compensated, a life settlement broker is deemed to represent only the owner and owes a fiduciary duty to the owner to act according to the owner's instructions and in the best interest of the owner.
Conn. Gen. Stat. § 38a-465o
Life settlement broker deemed to represent only the owner. Fiduciary duty to owner
Known as the Standard Nonforfeiture Law
The act spans §§ 38a-430 to 38a-466 (56 sections).
(P.A. 03-152, S. 13; P.A. 08-175, S. 16.) History: P.A. 08-175 replaced “viatical settlement” with “life settlement” and made conforming changes.
Official source: Connecticut General Assembly. Reproduced from public-domain Connecticut statutes; confirm against the official source for the current text. Not legal advice.