§ 27-54-1 - Crimes by or affecting persons engaged in the business of insurance.
SECTION 27-54-1
§ 27-54-1 Crimes by or affecting personsengaged in the business of insurance. – (a) Any person who knowingly and with intent to deceive the director ofbusiness regulation (referred to in this section as "director") about thefinancial condition of an insurance company, makes any false statement,representation or report to the director concerning an insurance company; orwho knowingly and with intent to deceive the director about the financialcondition of the company testifies or affirms falsely under oath or affirmationto any material fact relative to an insurance company in any matter which wouldmaterially affect the financial condition of the company; or who knowingly andwith intent to deceive the director about the financial condition of thecompany makes any false entry or memorandum upon any book, paper, report orstatement of any insurance company; or, who, knowingly and with intent todeceive the director or his or her designee or any agent appointed to examinethe affairs of an insurance company, or knowingly and with intent to deceive,defraud or injure the stockholders, policyholders or any officer or director ofan insurance company about the financial condition of the company makes astatement, representation or report to the director or the director's designeewhich the individual knows materially overvalues any asset, property orsecurity of an insurance company; or who knowingly and with intent to deceivethe director about the financial condition of the company fails to disclosematerial information, and any person who, with like intent, aids or abetsanother in any violation of any provision of this section, shall uponconviction, be fined not exceeding fifty thousand dollars ($50,000) orimprisoned not exceeding twenty (20) years, or both.