[§431E-43]  Fraud warning required. 
(a)  Life settlement contracts and applications for life settlement contracts,
regardless of the form of transmission, shall contain the following statement
or a substantially similar statement:  "Any person who knowingly presents
false information in an application for insurance or life settlement contract
is guilty of a crime and may be subject to fines and confinement in prison."



(b)  The lack of a statement as required in
subsection (a) shall not constitute a defense in any prosecution for a
fraudulent life settlement act. [L 2008, c 177, pt of §1]