§ 7806. Life settlement contract forms. (a) No licensed life
settlement provider shall enter into a life settlement contract subject
to this chapter unless the life settlement contract form, application
form, and any other form as may be prescribed by regulation, has been
filed with and approved by the superintendent. The superintendent may
disapprove any such form if the superintendent finds the form or any
provisions contained therein to be unreasonable, contrary to law or the
interests of the people of this state, or otherwise misleading or
unfair.

(b) Whenever, by the provisions of this chapter, the superintendent
has approved any life settlement contract form, application form, or any
other form, the superintendent may, after notice and hearing given to
the life settlement provider that submitted the form for approval,
withdraw an approval previously given if:

(1) the use of the form is contrary to the requirements applicable to
the form at the time of such withdrawal, or

(2) it contains provisions that are unjust, unfair or inequitable.

Any withdrawal of approval shall be effective at the expiration of
such period, at least ninety days after the giving of notice of
withdrawal or as the superintendent shall in such notice prescribe.