Advertisements: Avoidance of deception; filing of materials with Commissioner; regulations

1. An advertisement must be truthful and not misleading in fact or by implication. The form and content of an advertisement for viatical settlements, agreements to purchase viatical settlements or related products or services must be sufficiently complete and clear to avoid deception. An advertisement may not have a capacity or tendency to mislead or deceive, as determined by the Commissioner from the overall impression it may reasonably be expected to create upon a person of average education or intelligence in the segment of the public to which it is directed. 2. A provider of viatical settlements shall not enter into a viatical settlement unless the promotional, advertising and marketing materials, in at least 12-point type, have been filed with the Commissioner pursuant to regulations adopted by the Commissioner. The Commissioner shall adopt such regulations as the Commissioner deems necessary to carry out the provisions of this subsection.