(a) Viatical settlement contracts and applications for viatical settlement contracts shall contain the following statement or a substantially similar statement:
“Any person who knowingly presents false information in an application for insurance or an application for a viatical settlement contract has committed a fraudulent viatical settlement act and on conviction is subject to fines, imprisonment, or both, under § 27-408 of the Insurance Article of the Annotated Code of Maryland.”
(b) The absence of a statement as required in subsection (a) of this section does not constitute a defense in any prosecution for a fraudulent viatical settlement act.
Structure Maryland Statutes
Title 8 - Entities That Act as Insurers
Subtitle 6 - Viatical Settlement Providers and Viatical Settlement Brokers
Section 8-603 - Registration of Providers
Section 8-604 - Application; Fee
Section 8-605 - Representation of Viator; Viator Status Not Limited to Owner or Holder of Policy
Section 8-605.1 - Duties of Viatical Settlement Brokers
Section 8-607 - Expiration of Registration
Section 8-608 - Registration -- Denial, Nonrenewal, Suspension, Revocation
Section 8-609 - Penalties; Restitution
Section 8-610.1 - Verification of Coverage for Life Insurance Policies
Section 8-611 - Statement Required in Contracts and Applications