18 NCAC 06A .1320         VIATICAL SETTLEMENT CONTRACT SUITABILITY REQUIREMENTS

(a)  Suitability Standards.  Sales of viatical settlement contracts may be made only to either accredited investors as defined in 17 C.F.R. 230.501(a), (and as subsequently amended) or to qualified institutional buyers as defined in 17 C.F.R. 230. 144A, (and as subsequently amended).

(b)  Limit on Size of Investment.  The amount of the investment of any purchaser may not exceed five percent of the net worth of that purchaser.

(c)  The administrator may require higher investor suitability standards with respect to a particular security offering or transaction where necessary for the protection of investors.

History Note:        Authority G.S. 78A-49; 78A-13(b)(2)l; 78A-17(19);

Temporary Adoption Eff. April 1, 2002;

Eff. April 1, 2003;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. December 6, 2016.