2005 Regular Session
To: Insurance; Judiciary B
By: Representative Franks
AN ACT TO AMEND SECTION 83-7-11, MISSISSIPPI CODE OF 1972, TO REVISE THE PENALTY FOR FRAUDULENT SALES OF INSURANCE; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 83-7-11, Mississippi Code of 1972, is amended as follows:
83-7-11. Any solicitor, agent, examining physician, or other person who shall knowingly or wilfully make any false or fraudulent statement or representation in or with reference to any publication for insurance, or who shall make any such statement for the purpose of obtaining fee, commission, money, or benefit in any corporation transacting business under this chapter, shall be guilty of a misdemeanor and, upon conviction, shall be punished by a fine of not less than One Hundred Dollars ($100.00) nor more than Five Hundred Dollars ($500.00), or imprisonment in the county jail for not less than thirty (30) days. After July 1, 2005, any person who makes fraudulent sales of insurance, regardless of intent, shall be guilty of a felony and, upon conviction, shall be punished by a fine of not less than One Thousand Dollars ($1,000.00) nor more than Five Thousand Dollars ($5,000.00) or imprisonment in the Penitentiary for not less than two (2) years.
SECTION 2. This act shall take effect and be in force from and after July 1, 2005.