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CITE

    18 USC Sec. 1033                                            01/05/2009

EXPCITE

    TITLE 18 - CRIMES AND CRIMINAL PROCEDURE
    PART I - CRIMES
    CHAPTER 47 - FRAUD AND FALSE STATEMENTS

HEAD

    Sec. 1033. Crimes by or affecting persons engaged in the business
      of insurance whose activities affect interstate commerce

STATUTE

      (a)(1) Whoever is engaged in the business of insurance whose
    activities affect interstate commerce and knowingly, with the
    intent to deceive, makes any false material statement or report or
    willfully and materially overvalues any land, property or security -
        (A) in connection with any financial reports or documents
      presented to any insurance regulatory official or agency or an
      agent or examiner appointed by such official or agency to examine
      the affairs of such person, and
        (B) for the purpose of influencing the actions of such official
      or agency or such an appointed agent or examiner,
    shall be punished as provided in paragraph (2).
      (2) The punishment for an offense under paragraph (1) is a fine
    as established under this title or imprisonment for not more than
    10 years, or both, except that the term of imprisonment shall be
    not more than 15 years if the statement or report or overvaluing of
    land, property, or security jeopardized the safety and soundness of
    an insurer and was a significant cause of such insurer being placed
    in conservation, rehabilitation, or liquidation by an appropriate
    court.
      (b)(1) Whoever -
        (A) acting as, or being an officer, director, agent, or
      employee of, any person engaged in the business of insurance
      whose activities affect interstate commerce, or
        (B) is engaged in the business of insurance whose activities
      affect interstate commerce or is involved (other than as an
      insured or beneficiary under a policy of insurance) in a
      transaction relating to the conduct of affairs of such a
      business,
    willfully embezzles, abstracts, purloins, or misappropriates any of
    the moneys, funds, premiums, credits, or other property of such
    person so engaged shall be punished as provided in paragraph (2).
      (2) The punishment for an offense under paragraph (1) is a fine
    as provided under this title or imprisonment for not more than 10
    years, or both, except that if such embezzlement, abstraction,
    purloining, or misappropriation described in paragraph (1)
    jeopardized the safety and soundness of an insurer and was a
    significant cause of such insurer being placed in conservation,
    rehabilitation, or liquidation by an appropriate court, such
    imprisonment shall be not more than 15 years. If the amount or
    value so embezzled, abstracted, purloined, or misappropriated does
    not exceed $5,000, whoever violates paragraph (1) shall be fined as
    provided in this title or imprisoned not more than one year, or
    both.
      (c)(1) Whoever is engaged in the business of insurance and whose
    activities affect interstate commerce or is involved (other than as
    an insured or beneficiary under a policy of insurance) in a
    transaction relating to the conduct of affairs of such a business,
    knowingly makes any false entry of material fact in any book,
    report, or statement of such person engaged in the business of
    insurance with intent to deceive any person, including any officer,
    employee, or agent of such person engaged in the business of
    insurance, any insurance regulatory official or agency, or any
    agent or examiner appointed by such official or agency to examine
    the affairs of such person, about the financial condition or
    solvency of such business shall be punished as provided in
    paragraph (2).
      (2) The punishment for an offense under paragraph (1) is a fine
    as provided under this title or imprisonment for not more than 10
    years, or both, except that if the false entry in any book, report,
    or statement of such person jeopardized the safety and soundness of
    an insurer and was a significant cause of such insurer being placed
    in conservation, rehabilitation, or liquidation by an appropriate
    court, such imprisonment shall be not more than 15 years.
      (d) Whoever, by threats or force or by any threatening letter or
    communication, corruptly influences, obstructs, or impedes or
    endeavors corruptly to influence, obstruct, or impede the due and
    proper administration of the law under which any proceeding
    involving the business of insurance whose activities affect
    interstate commerce is pending before any insurance regulatory
    official or agency or any agent or examiner appointed by such
    official or agency to examine the affairs of a person engaged in
    the business of insurance whose activities affect interstate
    commerce, shall be fined as provided in this title or imprisoned
    not more than 10 years, or both.
      (e)(1)(A) Any individual who has been convicted of any criminal
    felony involving dishonesty or a breach of trust, or who has been
    convicted of an offense under this section, and who willfully
    engages in the business of insurance whose activities affect
    interstate commerce or participates in such business, shall be
    fined as provided in this title or imprisoned not more than 5
    years, or both.
      (B) Any individual who is engaged in the business of insurance
    whose activities affect interstate commerce and who willfully
    permits the participation described in subparagraph (A) shall be
    fined as provided in this title or imprisoned not more than 5
    years, or both.
      (2) A person described in paragraph (1)(A) may engage in the
    business of insurance or participate in such business if such
    person has the written consent of any insurance regulatory official
    authorized to regulate the insurer, which consent specifically
    refers to this subsection.
      (f) As used in this section -
        (1) the term "business of insurance" means -
          (A) the writing of insurance, or
          (B) the reinsuring of risks,
      by an insurer, including all acts necessary or incidental to such
      writing or reinsuring and the activities of persons who act as,
      or are, officers, directors, agents, or employees of insurers or
      who are other persons authorized to act on behalf of such
      persons;
        (2) the term "insurer" means any entity the business activity
      of which is the writing of insurance or the reinsuring of risks,
      and includes any person who acts as, or is, an officer, director,
      agent, or employee of that business;
        (3) the term "interstate commerce" means -
          (A) commerce within the District of Columbia, or any
        territory or possession of the United States;
          (B) all commerce between any point in the State, territory,
        possession, or the District of Columbia and any point outside
        thereof;
          (C) all commerce between points within the same State through
        any place outside such State; or
          (D) all other commerce over which the United States has
        jurisdiction; and
        (4) the term "State" includes any State, the District of
      Columbia, the Commonwealth of Puerto Rico, the Northern Mariana
      Islands, the Virgin Islands, American Samoa, and the Trust
      Territory of the Pacific Islands.

SOURCE

    (Added Pub. L. 103-322, title XXXII, Sec. 320603(a), Sept. 13,
    1994, 108 Stat. 2115.)

TERMINATION OF TRUST TERRITORY OF THE PACIFIC ISLANDS

      For termination of Trust Territory of the Pacific Islands, see
    note set out preceding section 1681 of Title 48, Territories and
    Insular Possessions.
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