On June 4, 2007, the NAIC, in plenary session, approved amendments to the Viatical Settlement Model Act. The approved amendments impact certain premium finance and life settlement transactions. Specifically, they (1) restrict settlement for five years on policies financed with the intent to settle, (2) permit settlement after two years subject to certain enumerated restrictions, (3) expand the definitions section to potentially encompass and limit some life settlement transactions, (4) impose greater disclosure requirements to viators and insurers, (5) address conflict of interest situations, and (6) impose advertising constraints. North Dakota was the first state to enact the amendments (enacted prior to the June 4 approval). Other states may follow suit.