§ 2137. Life settlement brokers; licensing. (a) The superintendent may\nissue a license to any individual, firm, association or corporation who\nor that has complied with the requirements of this chapter, authorizing\nthe licensee to act as a life settlement broker.\n (b) Any such license issued to a firm or association shall authorize\nonly the members thereof, named in such license as sub-licensees, to act\nindividually as life settlement brokers thereunder, and any such license\nissued to a corporation shall authorize only the officers and directors\nthereof, who are named in such license as sub-licensees, to act\nindividually as life settlement brokers thereunder. Every sub-licensee,\nacting as a life settlement broker pursuant to such a license shall be\nauthorized so to act only in the name of the licensee.\n (c) Every individual applicant for a license under this section and\nevery proposed sub-licensee shall be eighteen years of age or over at\nthe time of the issuance of such license.\n (d)(1) Before any original life settlement broker's license is issued,\nthere shall be on file in the office of the superintendent an\napplication by the proposed licensee in such form or forms, and\nsupplements thereto, and containing information the superintendent\nprescribes. For each business entity, the sub-licensee or sub-licensees\nnamed in the application shall be designated responsible for the\nbusiness entity's compliance with this chapter and regulations\npromulgated thereunder. The applicant shall fully disclose the identity\nof all stockholders (except stockholders owning fewer than ten percent\nof the voting shares of a life settlement broker whose shares are\npublicly traded), partners, officers, members, directors and persons\nwith a controlling interest and the superintendent may, in the exercise\nof the superintendent's discretion, refuse to issue a license in the\nname of a legal entity if not satisfied that any employee, stockholder,\npartner, officer, member, director or person with a controlling interest\nthereof who may materially influence the applicant's conduct meets the\nstandards of this article and article seventy-eight of this chapter.\nThereafter, the applicant and, if a license has been issued, the\nlicensee, shall provide to the superintendent new or revised information\nabout stockholders (except stockholders owning fewer than ten percent of\nthe voting shares of a life settlement broker whose shares are publicly\ntraded), partners, officers, members, directors and persons with a\ncontrolling interest within thirty days of the change. For purposes of\nthis section, "controlling interest" means a person who directly or\nindirectly, has the power to cause to be directed the management,\ncontrol or activities of such licensee.\n (2) The superintendent may require any individual named in the\napplication for such license to submit a set of fingerprints, unless\nsuch applicant is licensed as an insurance producer with a life line of\nauthority. Such fingerprints shall be submitted to the division of\ncriminal justice services for a state criminal history record check, as\ndefined in subdivision one of section three thousand thirty-five of the\neducation law, and may be submitted to the federal bureau of\ninvestigation for a national criminal history record check. All such\ncriminal history records sent to the superintendent pursuant to this\nparagraph shall be confidential pursuant to the applicable federal and\nstate laws, rules and regulations, and shall not be published or in any\nway disclosed to persons other than the superintendent, unless otherwise\nauthorized by law. The superintendent shall provide such applicant with\na copy of his or her criminal history record, if any, together with a\ncopy of article twenty-three-A of the correction law, and inform such\napplicant of his or her right to seek correction of any incorrect\ninformation contained in such record pursuant to regulations and\nproce
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