Vermont § 3835 - Definitions As used in this subchapter:

§ 3835. Definitions As used in this subchapter:

• (1) “Advertising” means any written, electronic, or printed communication or any communication
  by means of recorded telephone messages or that is transmitted on radio, television,
  the internet, or similar communications media, including film strips, motion pictures,
  and videos, that are published, disseminated, circulated, or placed directly before
  the public in this State for the purpose of creating an interest in or inducing a
  person to sell, assign, devise, bequest, or transfer the death benefit or ownership
  of a life insurance policy pursuant to a life settlement contract. (2) “Business of life settlements” means an activity involved in, but not limited to,
  the offering, soliciting, negotiating, procuring, effectuating, financing, monitoring,
  tracking, administering, underwriting, selling, transferring, assigning, pledging,
  hypothecating, or in any other manner acquiring an interest in a life insurance policy
  by means of a life settlement contract. (3) “Chronically ill” means: (A) being unable to perform at least two activities of daily living, including eating,
  toileting, transferring, bathing, dressing, or continence; (B) requiring substantial supervision to protect the individual from threats to health
  and safety due to intellectual disability; or (C) having a level of disability similar to that described in subdivision (A) of this
  subdivision (3) as determined by the appropriate administrator of a state or federal
  public disability insurance or benefit program. (4) “Commissioner” means the Commissioner of Financial Regulation. (5)(A) “Financing entity” means an insurance underwriter, placement agent, lender, purchaser
  of securities, purchaser of a policy or certificate from a life settlement provider,
  credit enhancer, or any entity that has a direct ownership in a policy or certificate
  that is the subject of a life settlement contract, but: