Massachusetts § 223D Penalties

Massachusetts Statutes

§ 223D — Penalties

Massachusetts § 223D

Part IADMINISTRATION OF THE GOVERNMENT

Title XXIICORPORATIONS

Ch. 175INSURANCE

This text of Massachusetts § 223D (Penalties) is published on Counsel Stack Legal Research, covering Massachusetts primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mass. Gen. Laws ch. 175, § 223D (2026).

Text

Section 223D.

(a)If a person is found guilty of committing a fraudulent life settlement act, that person shall also be guilty of committing insurance fraud and shall be subject to additional penalties.

(b)The commissioner may levy a civil penalty, not to exceed $10,000 for each violation, upon any person, including those persons and their employees licensed pursuant to sections 213 to 223E, inclusive, who is found to have committed a fraudulent life settlement act or violated any other provision of sections 213 to 223E, inclusive.

(c)The license of a person licensed under sections 213 to 223E, inclusive, that has committed a fraudulent life settlement act shall be revoked for at least 1 year.

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Section 223D. (a) If a person is found guilty of committing a fraudulent life settlement act, that person shall also be guilty of committing insurance fraud and shall be subject to additional penalties.(b) The commissioner may levy a civil penalty, not to exceed $10,000 for each violation, upon any person, including those persons and their employees licensed pursuant to sections 213 to 223E, inclusive, who is found to have committed a fraudulent life settlement act or violated any other provision of sections 213 to 223E, inclusive.(c) The license of a person licensed under sections 213 to 223E, inclusive, that has committed a fraudulent life settlement act shall be revoked for at least 1 year.