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Section 507E.3A - Fraudulent sales practices — penalties.

IA Code § 507E.3A (2019) (N/A)
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507E.3A Fraudulent sales practices — penalties.

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.

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.

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.

2016 Acts, ch 1122, §5; 2017 Acts, ch 29, §143

Referred to in §910.1

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