§ 27-47-3 - Penalty.
SECTION 27-47-3
§ 27-47-3 Penalty. – (a) Any person who violates § 27-47-2 shall, upon conviction, be fined notmore than fifty thousand dollars ($50,000) or be imprisoned for not more thanone year, or both.
(b) Any person who does any of the following:
(1) Conceals any property belonging to an insurer;
(2) Transfers or conceals in contemplation of a stateinsolvency proceeding his own property or property belonging to an insurer;
(3) Conceals, destroys, mutilates, alters, or makes a falseentry in any document which affects or related to the property of an insurer orwithholds any document from a receiver, trustee, or other officer of a courtentitled to its possession; or
(4) Gives, obtains, or receives a thing of value for actingor forbearing to act in any court proceedings, and that act or acts results inor contributes to an insurer becoming impaired or insolvent, then that personshall be guilty of a felony and, upon conviction, be punished by imprisonmentfor not more than five (5) years.