SAN DIEGO--(BUSINESS WIRE)--Life Settlement Solutions Inc., one of the nation's premier sources of life-settlement funding, is among the first life-settlement providers to receive a license under the state of Colorado’s life-settlement provider licensing requirements.
Colorado issued Life Settlement Solutions’ viatical (life) settlement provider license January 30, 2007.
Life Settlement Solutions has done business in Colorado since 2003, prior to life-settlement transactions being regulated in that state. In 2005, the state enacted new legislation to regulate all life and viatical settlements, effective Jan. 1, 2006. Prior to the enactment of this law, life-settlement companies were allowed to conduct business in the state without licensing requirements. The new law provided for a transitional provision that permitted life-settlement providers previously conducting life settlements in the state to continue doing so while their license applications were pending, so long as the application was filed within 30 days following the effective date of the act. Life Settlement Solutions’ application was filed within that 30–day period, so there has been no interruption with the firm’s ability to conduct business in Colorado.
“Our unblemished regulatory and compliance track record has contributed to our ability to do business in 46 out of the 50 states throughout the nation,” said Larry Simon, president and founder of Life Settlement Solutions. “We are very pleased to be among the first life-settlement companies to obtain such licensing in Colorado.”
For information about Life Settlement Solutions Inc., and other states in which it is eligible to do business, call 858-576-8067 or visit www.lss-corp.com.
Life Settlement Solutions is a life settlement provider, offering owners of qualifying life insurance policies the opportunity to convert their life insurance policies into cash. A pioneer in the non-viatical life settlement field, Life Settlement Solutions and its management represent one of the largest and most experienced institutionally funded life settlement companies in the market. Life Settlement Solutions and its management have purchased life insurance policies in excess of $1 billion aggregate face value to date. For more information, visit www.lss-corp.com.