SB284 H B&I AM 3-16
The Committee on Banking and Insurance moves to amend the bill on page 5, Section 16, line 22, by striking section 16 in its entirety and inserting in lieu thereof the following:
" §33-13C-16. Violation of article; criminal penalties.
(a) A viator person convicted of who commits a fraudulent viatical settlement act is guilty of a felony and, upon conviction thereof, shall be sentenced as follows:
(1) Imprisonment in a state correctional facility for not more than twenty years or payment of a fine of not more than $100,000, or both, if the value of the viatical settlement contract is more than $35,000;
(2) Imprisonment in a state correctional facility for not more than ten years or to payment of a fine of not more than $20,000, or both, if the value of the viatical settlement contract is more than $2,500, but not more than $35,000;
(3) Imprisonment in a state correctional facility for not more than five years or payment of a fine of not more than $10,000, or both, if the value of the viatical settlement contract is more than $500, but not more than $2,500.
(1) if the value of the viatical settlement contract is more than $35,000 , shall be fined not more than $100,000 or imprisoned in a state correctional facility for not more than twenty years, or both fined and imprisoned; or
(2) if the value of the viatical settlement contract is more than $2,500, but not more than $35,000 , shall be fined not more than $20,000 or imprisoned in a state correctional facility for not more than ten years, or both fined and imprisoned; or
(3) if the value of the viatical settlement contract is more than $500, but not more than $2,500 , shall be fined not more than $10,000 or imprisoned in a state correctional facility for not more than five years, or both fined and imprisoned.
(b) Any person who violates any other provision of this article is guilty of a misdemeanor and, upon conviction thereof, shall be fined not more than $1,000 or confined in jail not more than one year, or both fined and imprisoned confined."
Adopted
Rejected