(a) It is a violation of this subchapter for any person, provider, broker, or any other party related to the business of life settlements to commit a fraudulent life settlement act.
(b) For criminal liability purposes, a person that commits a fraudulent life settlement act is guilty of committing insurance fraud and shall be subject to the penalty provisions under § 23-66-512.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Chapter 81 - Life Insurance Policies And Annuities
Subchapter 8 - Life Settlements Act
§ 23-81-803. Licensing requirements
§ 23-81-804. License suspension, revocation, or refusal to renew
§ 23-81-805. Contract requirements
§ 23-81-806. Reporting requirements and privacy
§ 23-81-809. Disclosures to owners
§ 23-81-810. Disclosure to insurer
§ 23-81-812. Authority to promulgate rules — Conflict of laws
§ 23-81-813. Prohibited practices
§ 23-81-814. Fraud prevention and control
§ 23-81-815. Injunctions — Civil remedies — Cease and desist