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Section 8-605 - Representation of Viator; Viator Status Not Limited to Owner or Holder of Policy — Maryland Law | CourtGPT
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  5. Title 8 - Entities That Act As Insurers/
  6. Subtitle 6 - Viatical Settlement Providers and Viatical Settlement Brokers/
  7. Section 8-605 - Representation of Viator; Viator Status Not Limited to Owner or Holder of Policy
Maryland Legal Code

Section 8-605 - Representation of Viator; Viator Status Not Limited to Owner or Holder of Policy

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(a) 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) 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.