Maine § 24-A §6818 Fraud prevention and control

Maine Statutes

§ 24-A §6818 — Fraud prevention and control

Maine § 24-A §6818

Title 24-AMAINE INSURANCE CODE

Ch. 85VIATICAL AND LIFE SETTLEMENTS ACT

This text of Maine § 24-A §6818 (Fraud prevention and control) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 24-A, § 24-A §6818 (2026).

Text

1.Fraudulent viatical or life settlement acts prohibited. Notwithstanding any other provision of law to the contrary:

2.Fraud warning required. Settlement contracts and applications for settlements, regardless of the form of transmission, must contain the following statement or a substantially similar statement: "Any person who knowingly presents false information in an application for insurance or a settlement contract is guilty of a crime and may be subject to fines and confinement in prison." The lack of a statement as required in this subsection does not constitute a defense in any prosecution for a fraudulent viatical or life settlement act.

3.Mandatory reporting of fraudulent viatical or life settlement acts. Any person engaged in the business of settlements having knowledge or a

Free access — add to your briefcase to read the full text and ask questions with AI

1.
Fraudulent viatical or life settlement acts prohibited.
Notwithstanding any other provision of law to the contrary:
2.
Fraud warning required.
Settlement contracts and applications for settlements, regardless of the form of transmission, must contain the following statement or a substantially similar statement: "Any person who knowingly presents false information in an application for insurance or a settlement contract is guilty of a crime and may be subject to fines and confinement in prison." The lack of a statement as required in this subsection does not constitute a defense in any prosecution for a fraudulent viatical or life settlement act.
3.
Mandatory reporting of fraudulent viatical or life settlement acts.
Any person engaged in the business of settlements having knowledge or a reasonable belief that a fraudulent viatical or life settlement act is being, will be or has been committed shall provide to the superintendent the information required by, and in a manner prescribed by, the superintendent. Any other person having knowledge or a reasonable belief that a fraudulent viatical or life settlement act is being, will be or has been committed may provide to the superintendent the information required by, and in a manner prescribed by, the superintendent.
4.
Immunity from liability.
Except as provided in subsection 5, civil liability may not be imposed on and a cause of action may not arise from a person's furnishing information concerning suspected, anticipated or completed fraudulent viatical or life settlement acts or suspected or completed fraudulent insurance acts if the information is provided to or received from:
5.
Exception.
The following provisions apply to the imposition of civil liability arising from information provided to or received from the superintendent or the superintendent's employees, agents or representatives.
6.
Confidentiality.
The following provisions apply.
7.
Other law enforcement or regulatory authority.
This section does not:
8.
Viatical or life settlement antifraud initiatives.
In accordance with this subsection, a settlement provider licensee must have in place antifraud initiatives reasonably calculated to detect, prosecute and prevent fraudulent viatical or life settlement acts.