Iowa Code § 507E.3A
Fraudulent sales practices — penalties
Redline — January 1, 2018 → current.View current text →
Current — January 1, 2019
As of January 1, 2018
1. A person commits the offense of fraudulent sales practices if the person, with the intent to defraud another person in connection with any sale, solicitation, or negotiation of insurance in this state, willfully does any of the following:
1. A person commits the offense of fraudulent sales practices if the person, with the intent to defraud another person in connection with any sale, solicitation, or negotiation of insurance in this state, willfully does any of the following:
a. Employs any deception, device, scheme, or artifice to defraud.
a. Employs any deception, device, scheme, or artifice to defraud.
b. Misrepresents, conceals, or suppresses any material fact.
b. Misrepresents, conceals, or suppresses any material fact.
c. Engages in any act, practice, or course of business which operates as a fraud or deceit upon any person.
c. Engages in any act, practice, or course of business which operates as a fraud or deceit upon any person.
2. A person who violates subsection 1 commits a class “D” felony.
2. A person who violates subsection 1 commits a class “D” felony.
3. Notwithstanding subsection 2, a person commits a class “C” felony if the person violates subsection 1, and such violation results in a loss of more than ten thousand dollars.
3. Notwithstanding subsection 2, a person commits a class “C” felony if the person violates subsection 1, and such violation results in a loss of more than ten thousand dollars.
Section amended
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.