Definiciones y actos fraudulentos en contratos de seguros de vida

The term does not include a non-accredited investor or purchaser. (6) "Financing transaction" means a transaction in which a licensed provider obtains financing from a financing entity including secured or unsecured financing, a securitization transaction, or a securities offering that is either registered or exempt from registration under federal and state securities law. Statute text rendered on: - 1818 - 10/18/2024 INSURANCE CODE (7) "Fraudulent life settlement act" includes: (A) an act or omission committed by a person who, knowingly and with intent to defraud, for the purpose of depriving another of property or for pecuniary gain, commits, or permits an employee or an agent to engage in, acts including: (i) presenting, causing to be presented, or preparing with knowledge and belief that it will be presented to or by a provider, premium finance lender, broker, insurer, insurance agent, or any other person, false material information, or concealing material information, as part of, in support of, or concerning a fact material to one or more of the following: (a) an application for the issuance of a life settlement contract or an insurance policy; (b) the underwriting of a life settlement contract or an insurance policy; (c) a claim for payment or benefit pursuant to a life settlement contract or an insurance policy; (d) premium paid on an insurance policy; (e) payment for and changes in ownership or beneficiary made in accordance with the terms of a life settlement contrac