Tennessee § 56-50-105 - Approval of viatical settlement contracts and disclosure statements.

§ 56-50-105. Approval of viatical settlement contracts and disclosure statements.

A person shall not use a viatical settlement contract form or provide to a viator a disclosure statement form in this state unless first filed with and approved by the commissioner. The commissioner shall disapprove a viatical settlement contract form or disclosure statement form if, in the commissioner's opinion, the contract or provisions contained in the contract fail to meet the requirements of this chapter, including, but not limited to §§ 56-50-108 , 56-50-110 , 56-50-113 and 56-50-114(b) , or are unreasonable, contrary to the interests of the public or otherwise misleading or unfair to the viator. At the commissioner's discretion, the commissioner may require the submission of advertising material prior to its use in this state. Acts 2009, ch. 604, § 6. Compiler’s Notes. Former chapter 50, §§ 56-50-101 —56-50-111 (Acts 2000, ch. 699, §§ 1, 4-13), concerning the Life Settlements Act, was repealed by Acts 2009, ch. 604, § 1, effective August 17, 2009. The apparent legislative intent, expressed in Acts 2009, ch. 604, § 20, was that the 2009 repeal and reenactment of title 56, ch. 50 by that act take effect July 1, 2009; however, since a public chapter cannot become effective on a date prior to becoming law, the code commission deems the repeal and reenactment by that act to take effect on August 17, 2009, in accordance with Tenn. Const., art. II, § 20. See Opinion of the Attorney General, June 25, 1982 (OAG 82-336).