Business ProfileforReliant Life Shares, LLC

On December 14, 2022, the Commissioner issued a Desist and Refrain Order (Order) to Respondent pursuant to Corporations Code section 25532 finding that Respondent and its agents offered or sold securities in California by means of oral or written communications which included untrue statements of material facts or omitted to state material facts necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading.

Respondent timely requested a hearing on the Order and waived its right to an administrative hearing within 15 business days. The matter is presently set before the Office of Administrative Hearings on July 27, 2023. Respondent, without admitting or denying the matters in the Order, seeks to resolve the concerns of the Commissioner by entering into this Agreement.

Respondent shall implement the following corrective measures to address the Sales Issues:

a. Respondent will provide potential investors with actual performance reports for Respondent’s entire matured portfolio prior to accepting any investments

b. Respondent will obtain an acknowledgment that this additional disclosure, or context document, has been discussed and understood by the potential investor

c. Respondent will provide additional training and training materials for all of its agents on risks associated with investments in fractional life settlements and estimated life expectancy

d. Respondent will meet with the specific agents identified by DFPI that are still with Respondent to address the identified statements and other representations regarding performance of life settlement interests, and to engage in an ongoing monitoring process

e. Respondent will no longer use the “bell curve” image and statements found in its marketing materials that represent a generic distribution of life expectancy, and if Respondent uses a “bell curve” illustration it will reflect Respondent’s actual past performance, and,

f. These terms shall apply to any related entities, including but not limited to RLS Financial Services, Inc.

Respondent acknowledges that the Commissioner is ready, willing and able to proceed with the administrative action described above, and Respondent hereby waives the right to a hearing, and to any reconsideration, appeal, or other right to review. The Parties hereby acknowledge and agree that this Agreement is intended to constitute a full, final, and complete resolution of the Sales Issues, and that no further proceedings or actions will be brought by the Commissioner in connection with the Sales Issues, excepting therefrom any proceeding to enforce compliance with the terms of this Agreement. Subject to Respondent’s compliance with the terms of this Agreement and the Order including not making material misrepresentations or omissions, nothing in this Agreement or the Order prohibits Respondent from engaging in the business of offering and selling qualified or exempt securities in California including fractional investments in life settlement contracts.