South Carolina Code of Laws
Chapter 38 - Fraternal Benefit Societies
Section 38-38-720. False statement or misrepresentation with intent to defraud; penalties.

Any person or insurer who makes a false statement or misrepresentation, and any other person knowingly, with an intent to injure, defraud, or deceive, who assists, abets, solicits, or conspires with such person or insurer to make a false statement or misrepresentation, is guilty of a:
(1) misdemeanor, for a first offense violation, if the amount of the economic advantage benefit received is less than one thousand dollars. Upon conviction, the person must be punished by a fine not to exceed five hundred dollars or by imprisonment not to exceed thirty days;
(2) misdemeanor, for a first offense violation, if the amount of the economic advantage benefit received is one thousand dollars or more. Upon conviction, the person must be punished by a fine not to exceed fifty thousand dollars or by imprisonment for a term not to exceed three years, or by both such fine and imprisonment;
(3) felony, for a second or subsequent violation, regardless of the amount of the economic advantage benefit received. Upon conviction, the person must be punished by a fine not to exceed fifty thousand dollars or by imprisonment for a term not to exceed ten years, or by both such fine and imprisonment.
Any person or insurer convicted under this section must be ordered to make full restitution to the victim or victims for any economic advantage or benefit which has been obtained by the person or insurer as a result of that violation.
HISTORY: 2000 Act No. 259, Section 1.

Structure South Carolina Code of Laws

South Carolina Code of Laws

Title 38 - Insurance

Chapter 38 - Fraternal Benefit Societies

Section 38-38-10. Fraternal benefit society defined.

Section 38-38-20. Lodge system operating requirements; lodges for children.

Section 38-38-30. Representative form of government requirements.

Section 38-38-40. Definitions.

Section 38-38-50. Operation for benefit of members; power to adopt bylaws and rules.

Section 38-38-110. Membership provisions in bylaws or rules.

Section 38-38-120. Principal place of business; publication of required notice; annual statement of condition; grievance procedure.

Section 38-38-130. Liability of officers for benefit payments; civil action expense indemnification; liability insurance coverage for officers; cause of action against officers.

Section 38-38-140. Waiver of bylaw provisions.

Section 38-38-210. Requirements for formation of domestic society.

Section 38-38-220. Amendment of bylaws; notice to director.

Section 38-38-230. Not-for-profit institutions for benefit of members.

Section 38-38-240. Reinsurance.

Section 38-38-250. Consolidation or merger of domestic societies.

Section 38-38-260. Reorganization into mutual life insurer.

Section 38-38-310. Contractual benefits allowed; persons covered.

Section 38-38-320. Designation and change of beneficiary; payment of death benefits.

Section 38-38-330. Attachment, garnishment or seizure of benefits.

Section 38-38-340. Benefit certificates; subsequent bylaw changes; impaired reserves; evidence of terms and conditions; approval of certificates by director; transfer of ownership on gaining majority; assignment.

Section 38-38-350. Application of laws of State.

Section 38-38-410. Authorized investments.

Section 38-38-420. Assets to be held for use and benefit of society; special funds and accounts.

Section 38-38-430. Governance by chapter.

Section 38-38-440. Designation as charitable and benevolent institution.

Section 38-38-510. Standards of valuation for certificates; maintenance of excess reserves.

Section 38-38-520. Required statements and reports; penalties.

Section 38-38-530. Renewal of licenses; fees; license as prima facie evidence.

Section 38-38-540. Examination; notice of examination.

Section 38-38-550. Authorization to transact business in State; what to file with director.

Section 38-38-560. Operating deficiencies of domestic society; notice and correction; voluntarily discontinuing business.

Section 38-38-570. Operating deficiencies of foreign society; notice and correction; hearing; revocation of authority to do business; continuation of contracts.

Section 38-38-580. Injunctions.

Section 38-38-590. Licensing of agents.

Section 38-38-600. Applicability of general insurance provisions; membership requirements exception.

Section 38-38-710. Appointment of director as legal attorney for service of process.

Section 38-38-720. False statement or misrepresentation with intent to defraud; penalties.

Section 38-38-730. Societies and associations exempted from provisions of chapter.

Section 38-38-740. Review of findings of director.