N.Y. Insurance Law 5224 – Penalty for false statements
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§ 5224. Penalty for false statements. Any person and any agent or employee of a person, who knowingly files with the corporation any document required under this article, which is false or contains any material misstatement of fact shall be guilty of a misdemeanor and upon conviction therof shall be subject to a fine of not less than five hundred dollars, nor more than twenty-five hundred dollars, or imprisonment for not more than thirty days.
Terms Used In N.Y. Insurance Law 5224
- Conviction: A judgement of guilt against a criminal defendant.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.