(1) In added Section 1111A.003(h), Insurance Code (page 13, lines 5 - 6), strike "disclose the identity of the applicant's stockholders that own at least 10 percent of the shares of an applicant the shares of which" and substitute "disclose the identity of its stockholders, except stockholders owning fewer than ten percent of the shares of an applicant whose shares".

(2) In added Section 1111A.012(a), Insurance Code (page 20, lines 26 - 29), strike "Not later than the fifth day after the date a provider receives the application for a life settlement contract, the provider shall provide, in a separate written document, the following information to the owner:" and substitute "The broker, or the provider if no broker is involved in the application, shall provide in writing, in a separate document that is signed by the owner, the following information to the owner not later than the date of application for a life settlement contract:".

(3) In added Chapter 1111A, Insurance Code, immediately following added Section 1111A.025 (between page 37 and 38), add the following:

Sec. 1111A.026. APPLICABILITY OF CERTAIN PROVISIONS TO LIFE EXPECTANCY ESTIMATORS. (a) The following provisions do not apply to a broker who acts solely as a life expectancy estimator:

(1) Section 1111A.003(p);

(2) Section 1111A.012; and

(3) Sections 1111A.014(l) and (m).

(b) The commissioner may exempt a broker who acts only as a life expectancy estimator from other provisions of this chapter if the commissioner finds that the application of those provisions to the broker are not necessary for the public welfare.