This is a clone of the Texas Administrative Code (TAC) for educational purposes. It is not the official version and should not be used for legal purposes. Site created Wed, 21 May 2025 21:16:48 GMT
Breach of a life settlement broker's fiduciary duty includes, but is not limited to:(1) receiving compensation for negotiating a life settlement contract that would result in the owner receiving less than either the cash surrender value or accelerated death benefit, if such accelerated death benefit may be claimed at the time the owner enters into the life settlement contract, of the life insurance policy payable at the time of application for a life settlement contract.(2) a contractual agreement or arrangement to directly or indirectly exclusively negotiate life settlement contracts with a single life settlement provider.