[§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 statementor a substantially similar statement:  "Any person who knowingly presentsfalse information in an application for insurance or life settlement contractis guilty of a crime and may be subject to fines and confinement in prison."

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