Entities That May Currently Operate As Life Settlement Providers in New York
On November 19, 2009, Governor David A. Paterson signed into law Chapter 499 of the Laws of 2009, which repealed Article 78 of the Insurance Law, entitled "Viatical Settlements", and added a new Article 78 entitled, "Life Settlements." Chapter 499 became fully effective May 18, 2010.
Entities which were doing business in New York legally before the new law took effect and have met specific requirements under New York's Life Settlement Act may continue to operate as life settlement providers pending the disposition of their license applications.
Only the following entities may currently operate as life settlement providers in New York:
Licensed
- FairMarket Life Settlements Corp.
- GCM Life Settlements LLC
- Georgia Settlement Group (Incorporated in its state of domicile as The Settlement Group, Inc.)
- Life Settlements International, LLC
- Life Settlement Solutions, Inc.
- Magna Life Settlements, Inc.
- Parcside Equity LLC
- Q Capital Strategies, LLC
License Application Pending
- Abacus Settlements, LLC
- Coventry First LLC
- Credit Suisse Life Settlements LLC
- EAGiL Life Settlements LLC
- EconoTree Capital INC.
- Financial Life Services, LLC
- Habersham Funding, LLC
- Institutional Life Services, LLC
- Legacy Benefits LLC (d/b/a Legacy Benefits NY LLC)
- Life Equity, LLC
- Lotus Life LLC
- Maple Life Financial Inc.
- Neuma, Inc.
- Peachtree Life Settlements
- Portsmouth Settlement Company 1, LLC
- Progressive Capital Solutions, LLC
- Proverian Capital LLC
- Secondary Life Capital, LLC
- SLG Life Settlements LLC
- Spiritus Life, Inc.
- Wm. Page & Associates, Inc.
The above information will be revised as necessary to reflect the current license status of the above listed providers.
Updated 05/07/2012
