The commissioner shall have the authority to: I. Adopt rules pursuant to RSA 541-A, implementing this chapter; II. Establish standards for evaluating reasonableness of payments under life settlement contracts for persons who are terminally or chronically ill. This authority includes, but is not limited to, regulation of discount rates used to determine the amount paid in exchange for assignment, transfer, sale, devise, or bequest of a benefit under a life insurance policy insuring the life of a person that is chronically or terminally ill; III. Establish appropriate licensing requirements, fees, and standards for continued licensure for life settlement providers and life settlement producers; IV. Require a bond or other mechanism for financial accountability for life settlement providers and life settlement producers; and V. Adopt rules governing the relationship and responsibilities of both insurers and life settlement providers and life settlement producers during the viatication of a life insurance policy or certificate.
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