CONFIDENTIALITY

(a) The documents and evidence obtained by the commissioner in an investigation of a suspected or an actual fraudulent life settlement act are privileged and confidential, are not a public record, and are not subject to discovery or subpoena in a civil or criminal action. (b) Subsection (a) does not prohibit release by the commissioner of documents and evidence obtained in an investigation of a suspected or an actual fraudulent life settlement act: (1) in an administrative or judicial proceeding to enforce a provision of this code or another insurance law of this state; (2) to a federal, state, or local law enforcement or regulatory agency, to an organization established for the purpose of detecting and preventing a fraudulent life settlement act, or to the National Association of Insurance Commissioners; or (3) at the discretion of the commissioner, to a person in the business of life settlements that is aggrieved by a fraudulent life settlement act. (c) Release of documents and evidence under Subsection (b) does not abrogate or modify the privilege granted in Subsection (a).