Penal Law § 176.40 · Article 176. Insurance Fraud
Fraudulent life settlement act; defined
Text — Law content up to date as of October 23, 2026, as published by the New York State Senate (Open Legislation)
§ 176.40 Fraudulent life settlement act; defined.
A fraudulent life settlement act is committed by any person who, knowingly and with intent to defraud, presents, causes to be presented, or prepares with knowledge or belief that it will be presented to, or by, a life settlement provider, life settlement broker, life settlement intermediary, or any agent thereof, or to any owner any written statement or other physical evidence as part of, or in support of, an application for a life settlement contract, a claim for payment or other benefit under a life settlement contract, which the person knows to:
(1) contain materially false information concerning any material fact thereto; or
(2) conceal, for the purpose of misleading, information concerning any fact material thereto.
Source of truth
- Edition
- Law content up to date as of October 23, 2026, as published by the New York State Senate (Open Legislation)
- Official file
- https://legislation.nysenate.gov/pdf/laws/PEN176.40
- Text hash
- sha256 d0cf37e6ccc8dc224e9d857ada1ec3533b49f1b0cc00d96f66d845f260c85a48
- Composed by
- gen_ny_statutes.py 2026-11-10: the Senate's Open Legislation law tree (GET /api/3/laws/<ID>?full=true) read in document order; the Senate's PDF of the whole law (GET /pdf/laws/<ID>?full=true), read with PDFium, prints the same words in the same order
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.