eLaws of Florida

  SECTION 626.99275. Prohibited practices; penalties.  


Latest version.
  • 1(1) 2It is unlawful for a person to:
    9(a) 10Knowingly enter into, broker, or otherwise deal in a viatical settlement contract the subject of which is a life insurance policy, knowing that the policy was obtained by presenting materially false information concerning any fact material to the policy or by concealing, for the purpose of misleading another, information concerning any fact material to the policy, where the viator or the viator’s agent intended to defraud the policy’s issuer.
    79(b) 80Knowingly or with the intent to defraud, for the purpose of depriving another of property or for pecuniary gain, issue or use a pattern of false, misleading, or deceptive life expectancies.
    111(c) 112Knowingly engage in any transaction, practice, or course of business intending thereby to avoid the notice requirements of s. 131626.9924(7)132.
    133(d) 134Knowingly or intentionally facilitate the change of state of residency of a viator to avoid the provisions of this chapter.
    154(e) 155Knowingly enter into a viatical settlement contract before the application for or issuance of a life insurance policy that is the subject of a viatical settlement contract or during an applicable period specified in s. 190626.99287(1) 191or (2), unless the viator provides a sworn affidavit and accompanying independent evidentiary documentation in accordance with s. 209626.99287210.
    211(f) 212Engage in a fraudulent viatical settlement act, as defined in s. 223626.9911224.
    225(g) 226Knowingly issue, solicit, market, or otherwise promote the purchase of a life insurance policy for the purpose of or with an emphasis on selling the policy to a third party.
    256(h) 257Engage in a stranger-originated life insurance practice, as defined in s. 268626.9911269.
    270(2) 271A person who violates any provision of this section commits:
    281(a) 282A felony of the third degree, punishable as provided in s. 293775.082, 294s. 295775.083, 296or s. 298775.084, 299if the insurance policy involved is valued at any amount less than $20,000.
    313(b) 314A felony of the second degree, punishable as provided in s. 325775.082, 326s. 327775.083, 328or s. 330775.084, 331if the insurance policy involved is valued at $20,000 or more, but less than $100,000.
    348(c) 349A felony of the first degree, punishable as provided in s. 360775.082, 361s. 362775.083, 363or s. 365775.084, 366if the insurance policy involved is valued at $100,000 or more.
History.-s. 11, ch. 99-212; s. 9, ch. 2000-344; s. 53, ch. 2001-63; s. 28, ch. 2005-237; s. 8, ch. 2017-178.

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