{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-4055.13","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-4055.13","heading":"Prohibited acts - Warning statement - Provision of","body":"information on fraudulent acts - Liability - Antifraud initiatives.\n\nA. 1. A person shall not commit a fraudulent viatical\n\nsettlement act.\n\n2. A person shall not knowingly or intentionally interfere with\n\nthe enforcement of the provisions of the Viatical Settlements Act of\n\n2008 or investigations of suspected or actual violations of the\n\nViatical Settlements Act of 2008.\n\n3. A person in the business of viatical settlements shall not\n\nknowingly or intentionally permit any person convicted of a felony\n\ninvolving dishonesty or breach of trust to participate in the\n\nbusiness of viatical settlements.\n\nB. 1. Viatical settlements contracts and applications for\n\nviatical settlements, regardless of the form of transmission, shall\n\ncontain the following statement or a substantially similar\n\nstatement:\n\n“Any person who knowingly presents false information in an\n\napplication for insurance or viatical settlement contract is guilty\n\nof a crime and may be subject to fines and confinement in prison.”\n\n2. The lack of a statement as required in paragraph 1 of this\n\nsubsection does not constitute a defense in any prosecution for a\n\nfraudulent viatical settlement act.\n\nC. 1. Any person engaged in the business of viatical\n\nsettlements having knowledge or a reasonable suspicion that a\n\nfraudulent viatical settlement act is being, will be or has been\n\ncommitted shall provide to the Insurance Commissioner such\n\ninformation as required by, and in a manner prescribed by, the\n\nCommissioner.\n\n2. Any other person having knowledge or a reasonable belief\n\nthat a fraudulent viatical settlement act is being, will be or has\n\nbeen committed may provide to the Commissioner the information\n\nrequired by, and in a manner prescribed by, the Commissioner.\n\nD. 1. No civil liability shall be imposed on and no cause of\n\naction shall arise from a person’s furnishing information concerning\n\nsuspected, anticipated or completed fraudulent viatical settlement\n\nacts or suspected or completed fraudulent insurance acts, if the\n\ninformation is provided to or received from:\n\na. the Commissioner or the Commissioner’s employees,\n\nagents or representatives,\n\nb. federal, state or local law enforcement or regulatory\n\nofficials or their employees, agents or\n\nrepresentatives,\n\nc. a person involved in the prevention and detection of\n\nfraudulent viatical settlement acts or that person’s\n\nagents, employees or representatives,\n\nd. the National Association of Insurance Commissioners\n\n(NAIC), National Association of Securities Dealers\n\n(NASD), the North American Securities Administrators\n\nAssociation (NASAA), or their employees, agents or\n\nrepresentatives, or other regulatory body overseeing\n\nlife insurance, viatical settlements, securities or\n\ninvestment fraud, or\n\ne. the life insurer that issued the life insurance policy\n\ncovering the life of the insured.\n\n2. Paragraph 1 of this subsection shall not apply to statements\n\nmade with actual malice. In an action brought against a person for\n\nfiling a report or furnishing other information concerning a\n\nfraudulent viatical settlement act, the party bringing the action\n\nshall plead specifically any allegation that paragraph 1 of this\n\nsubsection does not apply because the person filing the report or\n\nfurnishing the information did so with actual malice.\n\n3. A person furnishing information as identified in paragraph 1\n\nof this subsection shall be entitled to an award of attorney fees\n\nand costs if he or she is the prevailing party in a civil cause of\n\naction for libel, slander or any other relevant tort arising out of\n\nactivities in carrying out the provisions of the Viatical\n\nSettlements Act of 2008 and the party bringing the action was not\n\nsubstantially justified in doing so. For purposes of this section a\n\nproceeding is “substantially justified” if it had a reasonable basis\n\nin law or fact at the time that it was initiated. However, such an\n\nrt arising out of\n\nactivities in carrying out the provisions of the Viatical\n\nSettlements Act of 2008 and the party bringing the action was not\n\nsubstantially justified in doing so. For purposes of this section a\n\nproceeding is “substantially justified” if it had a reasonable basis\n\nin law or fact at the time that it was initiated. However, such an\n\naward does not apply to any person furnishing information concerning\n\nhis or her own fraudulent viatical settlement acts.\n\n4. This section does not abrogate or modify common law or\n\nstatutory privileges or immunities enjoyed by a person described in\n\nparagraph 1 of this subsection.\n\nE. 1. The documents and evidence provided pursuant to\n\nsubsection D of this section or obtained by the Commissioner in an\n\ninvestigation of suspected or actual fraudulent viatical settlement\n\nacts shall be privileged and confidential and shall not be a public\n\nrecord and shall not be subject to discovery or subpoena in a civil\n\nor criminal action.\n\n2. Paragraph 1 of this subsection does not prohibit release by\n\nthe Commissioner of documents and evidence obtained in an\n\ninvestigation of suspected or actual fraudulent viatical settlement\n\nacts:\n\na. in administrative or judicial proceedings to enforce\n\nlaws administered by the Commissioner,\n\nb. to federal, state or local law enforcement or\n\nregulatory agencies, to an organization established\n\nfor the purpose of detecting and preventing fraudulent\n\nviatical settlement acts or to the NAIC, or\n\nc. at the discretion of the Commissioner, to a person in\n\nthe business of viatical settlements that is aggrieved\n\nby a fraudulent viatical settlement act.\n\n3. Release of documents and evidence under paragraph 2 of this\n\nsubsection does not abrogate or modify the privilege granted in\n\nparagraph 1 of this subsection.\n\nF. This act shall not:\n\n1. Preempt the authority or relieve the duty of other law\n\nenforcement or regulatory agencies to investigate, examine and\n\nprosecute suspected violations of law;\n\n2. Prevent or prohibit a person from disclosing voluntarily\n\ninformation concerning viatical settlement fraud to a law\n\nenforcement or regulatory agency other than the Insurance\n\nDepartment;\n\n3. Preempt, supersede, or limit any provision of any state\n\nsecurities law or any rule, order, or notice issued thereunder; or\n\n4. Limit the powers granted elsewhere by the laws of this state\n\nto the Commissioner or an insurance fraud unit to investigate and\n\nexamine possible violations of law and to take appropriate action\n\nagainst wrongdoers.\n\nG. 1. Viatical settlement providers and viatical settlement\n\nbrokers shall have in place antifraud initiatives reasonably\n\ncalculated to detect, prosecute and prevent fraudulent viatical\n\nsettlement acts. At the discretion of the Commissioner, the\n\nCommissioner may order, or a licensee may request and the\n\nCommissioner may grant, such modifications of the following required\n\ninitiatives as necessary to ensure an effective antifraud program.\n\nThe modifications may be more or less restrictive than the required\n\ninitiatives so long as the modifications may reasonably be expected\n\nto accomplish the purpose of this section.\n\n2. Antifraud initiatives shall include:\n\na. fraud investigators, who may be viatical settlement\n\nprovider or viatical settlement broker employees or\n\nindependent contractors, and\n\nb. an antifraud plan, which shall be submitted to the\n\nCommissioner. The antifraud plan shall include, but\n\nnot be limited to:\n\n(1) a description of the procedures for detecting and\n\ninvestigating possible fraudulent viatical\n\nsettlement acts and procedures for resolving\n\nmaterial inconsistencies between medical records\n\nand insurance applications,\n\n(2) a description of the procedures for reporting\n\npossible fraudulent viatical settlement acts to\n\nthe Commissioner,\nThe antifraud plan shall include, but\n\nnot be limited to:\n\n(1) a description of the procedures for detecting and\n\ninvestigating possible fraudulent viatical\n\nsettlement acts and procedures for resolving\n\nmaterial inconsistencies between medical records\n\nand insurance applications,\n\n(2) a description of the procedures for reporting\n\npossible fraudulent viatical settlement acts to\n\nthe Commissioner,\n\n(3) a description of the plan for antifraud education\n\nand training of underwriters and other personnel,\n\nand\n\n(4) a description or chart outlining the\n\norganizational arrangement of the antifraud\n\npersonnel who are responsible for the\n\ninvestigation and reporting of possible\n\nfraudulent viatical settlement acts and\n\ninvestigating unresolved material inconsistencies\n\nbetween medical records and insurance\n\napplications.\n\n3. Antifraud plans submitted to the Commissioner shall be\n\nprivileged and confidential and shall not be a public record and\n\nshall not be subject to discovery or subpoena in a civil or criminal\n\naction.","path":["OK Code","Title 36"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os36.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"ec3d649889ab258fa5b16e6c65931d1ae6b7901cddf906bb6895be20734767b5","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-4055.12","next":"us-ok/okla.-stat.-tit.-36-36-4055.14"},"notice":"GroundRules: Original legal text. Not legal advice."}