Public-domain · open source
OpenJurist

Me. Rev. Stat. tit. 24-A, § 6805

Approval of settlements contracts; disclosure statements and applications

Known as the Viatical and Life Settlements Act

The act spans §§ 6801–6819 (24 sections).

PL 1997, c. 430, §1 (NEW)

A settlement contract must be in writing and signed by all parties to the contract. A person may not use any contract, disclosure statement or application form with a viator who is a resident of this State unless it has been filed with and approved by the superintendent, pursuant to sections 2412 and 2413. The superintendent shall disapprove a settlement contract form or disclosure statement form if, in the superintendent's opinion, the contract or provisions contained therein are unreasonable, contrary to the interests of the public or otherwise misleading or unfair to the viator. All such forms must be approved or denied by the superintendent within 60 calendar days following receipt of submission by the superintendent.

Official source: Maine Legislature. Reproduced from public-domain Maine statutes; confirm against the official source for the current text. Not legal advice.