(1)If any person asks to be excused
from attending and testifying or from producing any books, papers, records,
correspondence, or other documents at any hearing on the ground that the
testimony or evidence required of the person may tend to incriminate the person or
subject the person to a penalty or forfeiture, and, notwithstanding such request, the
commissioner directs such person to give such testimony or produce such evidence,
such person shall nonetheless comply with such direction but the person shall not
thereafter be prosecuted or subjected to any penalty or forfeiture for or on account
of any transaction, matter, or thing concerning which the person testifies or
produces evidence pursuant thereto; and no testimony so given or evidence so
produced shall be received agai
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(1) If any person asks to be excused
from attending and testifying or from producing any books, papers, records,
correspondence, or other documents at any hearing on the ground that the
testimony or evidence required of the person may tend to incriminate the person or
subject the person to a penalty or forfeiture, and, notwithstanding such request, the
commissioner directs such person to give such testimony or produce such evidence,
such person shall nonetheless comply with such direction but the person shall not
thereafter be prosecuted or subjected to any penalty or forfeiture for or on account
of any transaction, matter, or thing concerning which the person testifies or
produces evidence pursuant thereto; and no testimony so given or evidence so
produced shall be received against such person upon any criminal action,
investigation, or proceeding. However, no person who has filed a waiver pursuant to
subsection (3) of this section shall be immune from prosecution on account of
testimony given or evidence produced.
(2) No person so testifying shall be exempt from prosecution or punishment
for any perjury in the first degree committed by the person while so testifying, and
the testimony or evidence so given or produced shall be admissible against the
person upon any criminal action, investigation, or proceeding concerning such
perjury; nor shall the person be exempt from the refusal, revocation, or suspension
of any license, permission, or authority conferred, or to be conferred, pursuant to
the laws of this state.
(3) Any person may execute, acknowledge, and file in the office of the
commissioner a statement expressly waiving his or her immunity or privilege with
respect to any transaction, matter, or thing specified in such statement, and
thereupon the testimony of such person or such evidence in relation to such
transaction, matter, or thing may be received or produced before any judge or
justice, court, tribunal, grand jury, or other authority, and if it is so received or
produced, such individual shall not be entitled to any immunity or privilege on
account of such testimony so given or evidence so produced. A waiver executed
pursuant to this subsection (3) shall be valid only if it is:
(a) Entered into voluntarily;
(b) Executed by a person with the intellectual capacity to understand the
consequences of executing such a waiver;
(c) Not executed under threat, coercion, or duress; and
(d) (I) Entered into knowingly.
(II) For purposes of this paragraph (d), a waiver is entered into knowingly
when the person executing such waiver has been informed of his or her right to
confer with independent legal counsel.