New York § 7806 - 7806Life settlement contract forms
Full text of New York New York Consolidated Laws § 7806 — 7806Life settlement contract forms, with citation guidance and answers to common questions.
§ 7806. 7806Life settlement contract forms
§ 7806. Life settlement contract forms. (a) No licensed life settlement provider shall enter into a life settlement contract subject to this chapter unless the life settlement contract form, application form, and any other form as may be prescribed by regulation, has been filed with and approved by the superintendent. The superintendent may disapprove any such form if the superintendent finds the form or any provisions contained therein to be unreasonable, contrary to law or the interests of the people of this state, or otherwise misleading or unfair. (b) Whenever, by the provisions of this chapter, the superintendent has approved any life settlement contract form, application form, or any other form, the superintendent may, after notice and hearing given to the life settlement provider that submitted the form for approval, withdraw an approval previously given if: (1) the use of the form is contrary to the requirements applicable to the form at the time of such withdrawal, or (2) it contains provisions that are unjust, unfair or inequitable. Any withdrawal of approval shall be effective at the expiration of such period, at least ninety days after the giving of notice of withdrawal or as the superintendent shall in such notice prescribe.
Frequently Asked Questions About New York § 7806
What does New York Consolidated Laws § 7806 cover?
Section 7806 ("7806Life settlement contract forms") is part of the New York Consolidated Laws, the codified statutory law of New York. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New York § 7806?
A common citation format is "New York Consolidated Laws § 7806" (New York). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 7806 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New York.