No insurance company or health care center authorized to transact business in this state, nor any agent thereof, shall state or represent, either by advertisement in any newspaper, magazine or periodical or by any sign, circular, card or policy of insurance or contract or certificate of renewal thereof, or otherwise, any funds or assets to be in its possession not actually possessed by it and available for the payment of losses and claims and held for the protection of its policyholders, members or creditors. Any advertisement of or representation as to subscribed capital not actually paid up in cash shall constitute a violation of the provisions of this section.
(1949 Rev., S. 6080; P.A. 96-227, S. 12.)
History: Sec. 38-56 transferred to Sec. 38a-828 in 1991; P.A. 96-227 made the section applicable to health care centers.
Structure Connecticut General Statutes
Chapter 704 - Unfair and Prohibited Practices
Section 38a-815. (Formerly Sec. 38-60). - Unfair practice prohibited.
Section 38a-816. (Formerly Sec. 38-61). - Unfair practices defined.
Section 38a-818. (Formerly Sec. 38-63). - Hearing on unfair practice not so defined. Injunction.
Section 38a-819. (Formerly Sec. 38-64). - Powers to be additional. Regulations.
Section 38a-824. (Formerly Sec. 38-64a). - Commissioner to adopt regulations prohibiting redlining.
Section 38a-826. (Formerly Sec. 38-55). - Misrepresentation to induce change of insurance. Penalty.
Section 38a-827. (Formerly Sec. 38-93a). - Fictitious grouping for insurance purposes prohibited.
Section 38a-827a. - Discrimination on basis of lawful travel destination prohibited.
Section 38a-828. (Formerly Sec. 38-56). - False statement of assets prohibited.
Section 38a-829. (Formerly Sec. 38-57). - Advertisements to conform to last filed statement.
Section 38a-830. (Formerly Sec. 38-58). - Penalty.
Section 38a-834. - Discrimination against living organ donors prohibited.