GEORGIA GRANTS LICENSING TO LIFE
Contact: Angie Robert,
Life Settlement Solutions , 858/244–4729
SAN DIEGO – Jan. 17, 2007 –
The state of Georgia recently enacted life-settlement provider licensing requirements, and Life Settlement Solutions Inc., one of the nation's premier sources of
life-settlement funding, was among the first life-settlement providers to receive a license under the law.
Georgia issued Life Settlement Solutions’ viatical (life) settlement
provider license Jan. 12, 2007.
Life Settlement Solutions has done business in Georgia since 2003, prior to life-settlement transactions being regulated in that state. The state
expanded its viatical settlement laws to include life settlements, effective Nov. 5, 2005. Prior to the enactment of the 2005 legislation, 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 Georgia.
“In addition to application materials, biographical submissions by officers, background checks and a review of Life Settlement Solutions’ plan of
operations, Georgia also utilized a field-examination process under which it retained an independent examination firm that conducted a field audit of Life Settlement
Solutions’ business practices and a review of closed case files,” said Larry Simon, president and founder of Life Settlement Solutions. “Our
unblemished regulatory and compliance track record speaks highly to our ability to obtain licensing in every life-settlement regulated state throughout the nation. We are
very pleased to be among the first life-settlement companies to be granted licensing in Georgia.”
For information about Life Settlement Solutions Inc., and other states in which it is eligible to do business, call 858/576-8067 or visit
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