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Current as of January 01, 2023 | Updated by FindLaw Staff
(a) A licensed life settlement broker or life settlement provider may conduct or participate in advertisements. The advertisements shall comply with all advertising laws or rules and regulations promulgated by the commissioner that are applicable to insurers, life insurance producers, brokers and providers.
(b) Advertisements shall be accurate, truthful and not misleading in fact or by implication.
(c) No person in the business of insurance or the business of life settlements shall:
(1) directly or indirectly market, advertise or solicit the purchase of a new policy for the purpose of or with a significant emphasis on settling the policy;
(2) use the words “free” or “no cost” or words of similar import in marketing, advertising, soliciting or otherwise promoting the purchase of a policy; or
(3) with respect to a life settlement provider, enter into a life settlement contract unless the related advertisements, as may be prescribed by regulation, have been filed with the commissioner.
(d) Prior to publication, the commissioner may require the submission of advertising material.
(e) The commissioner shall require delivery of a buyer's guide or a similar consumer advisory package in the form prescribed by the commissioner to owners during the solicitation process.
Cite this article: FindLaw.com - Massachusetts General Laws Part I. Administration of the Government (Ch. 1-182) Ch. 175, § 219 - last updated January 01, 2023 | https://codes.findlaw.com/ma/part-i-administration-of-the-government-ch-1-182/ma-gen-laws-ch-175-sect-219/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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