§ 20-457 – Premature disposal of premium notes prohibited
20-457. Premature disposal of premium notes prohibited An insurer and its insurance producer shall not hypothecate, sell or dispose of a promissory note received in payment of any part of a premium on a policy of insurance applied for prior to the delivery of the policy.
§ 20-458 – Fraudulent statement in application; classification
20-458. Fraudulent statement in application; classification Any life insurance producer, examining physician or other person who knowingly makes a false or fraudulent statement or representation in or relative to an application for life or disability insurance, or who makes any such statement to obtain a fee, commission, money or benefit is guilty of a class […]
§ 20-459 – Deferred dividends; life
20-459. Deferred dividends; life On and after January 1, 1961, no person shall make or issue or offer to make or issue any contract of life insurance or of life annuity which provides that any premiums, dividends, excess interest, mortality savings, gains from lapses, loadings, or earnings and accumulations therefrom, be payable only to those […]
§ 20-441 – Purpose of article; definition
20-441. Purpose of article; definition A. Among the purposes of this article is the regulation of trade practices in the business of insurance in accordance with the intent of Congress as expressed in the act of Congress of March 9, 1945, 59 Stat. 33, by defining, or providing for the determination of, all such practices […]
§ 20-442 – Unfair trade practices prohibited
20-442. Unfair trade practices prohibited No person shall engage in this state in any trade practice which is prohibited by this article, or defined in this article as, or determined pursuant to this article to be, an unfair method of competition or an unfair or deceptive act or practice in the business of insurance.
§ 20-443 – Misrepresentations and false advertising of policies; false disclosure of compensation
20-443. Misrepresentations and false advertising of policies; false disclosure of compensation A. A person shall not make, issue or circulate, or cause to be made, issued or circulated, any estimate, illustration, circular, sales material or statement: 1. Misrepresenting the terms of any policy issued or to be issued or the benefits or advantages promised or […]
§ 20-443.01 – Misrepresentation in sale of insurance; violation; classification
20-443.01. Misrepresentation in sale of insurance; violation; classification A. It is unlawful for a person to knowingly make any misrepresentation as proscribed by section 20-443 in the sale of insurance. B. A person who violates this section is guilty of a class 5 felony.
§ 20-443.02 – Stranger originated life insurance
20-443.02. Stranger originated life insurance A. Intentionally practicing or planning to initiate a life insurance policy for the benefit of a person or entity that lacks an insurable interest and that, at the time of policy origination, has no insurable interest in the insured is a violation of section 20-1104. Stranger originated life insurance practices […]
§ 20-444 – False or deceptive advertising of insurance or status as insurer
20-444. False or deceptive advertising of insurance or status as insurer A. No person shall make, publish, disseminate, circulate or place before the public, or cause, directly or indirectly, to be made, published, disseminated, circulated or placed before the public, in a newspaper, magazine or other publication, or in the form of a notice, circular, […]
§ 20-445 – Defamation
20-445. Defamation No person shall make, publish, disseminate or circulate, directly or indirectly, or aid, abet or encourage the making, publishing, disseminating or circulating of any oral or written statement or any pamphlet, circular, article, sales material or literature which is false or maliciously critical of or derogatory to the financial condition of an insurer, […]