Sec. 19. After a hearing under IC 4-21.5, the department may suspend, revoke, or refuse to renew a viatical settlement provider's license, or impose a civil penalty, or both, if the department finds any of the following:
(1) There was a misrepresentation in the application for the license.
(2) The viatical settlement provider is untrustworthy or incompetent to act as a viatical settlement provider.
(3) The viatical settlement provider demonstrates a pattern of unreasonable payments to viators.
(4) The viatical settlement provider has been convicted of, or pleaded guilty or nolo contendere to, an offense the definition of which includes fraudulent acts as an element of the offense regardless of whether a judgement has been entered by the court.
(5) The viatical settlement provider no longer meets the requirements for initial licensure.
(6) The viatical settlement provider has failed to honor the contractual obligations of a viatical settlement contract.
(7) The viatical settlement provider has violated this chapter.
As added by P.L.130-1994, SEC.47 and P.L.116-1994, SEC.70. Amended by P.L.32-1998, SEC.21.
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