Nevada Revised Statutes 688C.450 – Felonious acts
It is a category D felony, and the offender shall be punished as provided in NRS 193.130, for any person, knowingly or with intent to defraud, to do any of the following acts in order to deprive another of property or for the person’s own pecuniary gain:
Attorney's Note
Under the Nevada Revised Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| category D felony | 1 to 4 years | up to $5,000 |
Terms Used In Nevada Revised Statutes 688C.450
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Fraud: Intentional deception resulting in injury to another.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
- Sequester: To separate. Sometimes juries are sequestered from outside influences during their deliberations.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
1. Present, cause to be presented or prepare with knowledge or belief that it will be presented, false information to or by an investment agent or a provider or broker of viatical settlements, a financing agent, an insurer, a provider of insurance or any other person, or to conceal information, as part of, in support of or concerning a fact material to:
(a) An application for the issuance of a policy or viatical settlement;
(b) The underwriting of a policy or viatical settlement;
(c) A claim for payment or other benefit under a policy, viatical settlement or agreement to purchase a viatical settlement;
(d) A premium paid on a policy or as a result of an agreement to purchase a viatical settlement;
(e) A payment or change of beneficiary or ownership pursuant to a policy or viatical settlement;
(f) The reinstatement or conversion of a policy;
(g) The solicitation, offer or effectuation of a policy, viatical settlement or agreement to purchase a viatical settlement; or
(h) The issuance of written evidence of a policy, viatical settlement or agreement to purchase a viatical settlement.
2. In furtherance of a fraud or to prevent detection of a fraud:
(a) Remove, conceal, alter, destroy or sequester from the Commissioner assets or records of a licensee under this chapter or other person engaged in the business of viatical settlements;
(b) Misrepresent or conceal the financial condition of a licensee, a financing agent, an insurer or other person;
(c) Transact the business of viatical settlements in violation of this chapter; or
(d) File with the Commissioner or analogous officer of another jurisdiction a document containing false information or otherwise conceal information about a material fact from the Commissioner or other officer.
3. Present, cause to be presented or prepare with knowledge or belief that it will be presented to or by a provider or broker of viatical settlements, an investment agent, a financing agent, an insurer, a provider of insurance or any other person, in connection with a viatical settlement or transaction of insurance, a policy fraudulently by the insured or owner or an agent of either.
4. Embezzle, steal, misappropriate or convert money, premiums, credits or other property in an amount or having a value of less than $650 of a provider of viatical settlements, a viator, an insurer, an insured, an owner of a policy or other person engaged in the business of viatical settlements or insurance.
5. Attempt to commit, assist, aid, abet or conspire to commit an act or omission described in subsections 1 to 4, inclusive.
6. Under no circumstances is a violation of this section considered or intended to be a lesser included offense of a violation of the provisions of NRS 90.570.