Section 8-605 - Representation of viator; viator status not limited to owner or holder of policy.
§ 8-605. Representation of viator; viator status not limited to owner or holder of policy.
(a) Representation of viator.- Notwithstanding the manner in which the viatical settlement broker is compensated, a viatical settlement broker is deemed to represent only the viator and owes a fiduciary duty to the viator to act according to the viator's instructions and in the best interest of the viator.
(b) Viator status not limited to owner or holder of policy.- For purposes of this subtitle, a viator may not be limited to an owner or certificate holder of a policy that insures the life of an individual who is terminally ill or chronically ill.
[2004, ch. 275.]