The commissioner may adopt rules implementing and administering this chapter including, but not limited to:

     (1) Establishing standards for evaluating reasonableness of payments under life settlement contracts for persons who are terminally ill or chronically ill including, but not limited to, regulation of discount rates used to determine the amount paid in exchange for assignment, transfer, sale, devise, or bequest of a benefit under a life insurance policy insuring the life of a person that is chronically or terminally ill;

     (2) Requiring a bond or other mechanism for financial accountability for life settlement providers; and

     (3) Governing the activities, relationships, and responsibilities of providers, brokers, insurers, and their agents.

[2009 c 104 § 20.]