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Minnesota Criminal Justice Statute Service
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609.611.1(e)(3)
Statute ID:
8261
Statute Function ID:
27399
Insurance Fraud-Diverts/Embezzles Funds in Connection with Acquisition of Insurer
In Effect
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Function Details
History
Text
Charge
Classifications
Offense Level:
Gross Misdemeanor (GM)
General Offense Code:
Property (2)
Offense Summary Code & Rank:
Theft (T) (Rank 24)
Detailed Offense Code:
Theft (269)
Offense Severity Level:
Function Text:
UCR Code
Description
26A
Fraud Offenses-False Pretenses/Swindle/Confidence Game
Flags
Crime of Violence:
No
Targeted Misdemeanor:
No
Predatory Offender Registration Review:
No
Enhanceable:
No
Certify to DPS:
No
Report to DNR:
No
DPS Group:
No
Conditional Release:
No
Payable:
No
Petty Misdemeanor Only if Prosecutor Certifies:
No
Third Violation Indicator:
No
Qualified Domestic Violence Related:
No
Nonviolent Controlled Substance Offender Review:
No
Wildlife Restitution:
No
Statute Number:
609.611.1(e)(3)
Enactment Date:
Jan 1, 1859
Effective Date:
Aug 1, 1994
Expiration Date:
Repealed?:
No
Summary Text:
Insurance Fraud-Diverts/Embezzles Funds in Connection with Acquisition of Insurer
Statute ID:
8261
Created:
Sep 1, 2006 by mnjis.legal.analyst@state.mn.us
Updated:
Sep 8, 2008 by mnjis.legal.analyst@state.mn.us
Last Update Action:
System
Legal Analyst Comment:
Summary Text:
Insurance Fraud-Diverts/Embezzles Funds in Connection with Acquisition of Insurer
Link to MN Statute Text:
https://www.revisor.leg.state.mn.us/stats/609/611.html
Legislative Session:
0 - NA
Session Law Text?:
No
Statute text last updated on:
Sep 1, 2006
Whoever with the intent to defraud for the purpose of depriving another of property or for pecuniary gain, commits, or permits its employees or its agents to commit any of the following acts, is guilty of insurance fraud and may be sentenced as provided in subdivision 3: (a) Presents, causes to be presented, or prepares with knowledge or reason to believe that it will be presented, by or on behalf of an insured, claimant, or applicant to an insurer, insurance professional, or premium finance company in connection with an insurance transaction or premium finance transaction, any information that contains a false representation as to any material fact, or that conceals a material fact concerning any of the following: (1) an application for, rating of, or renewal of, an insurance policy; (2) a claim for payment or benefit under an insurance policy; (3) a payment made according to the terms of an insurance policy; (4) an application used in a premium finance transaction; (b) Presents, causes to be presented, or prepares with knowledge or reason to believe that it will be presented, to or by an insurer, insurance professional, or a premium finance company in connection with an insurance transaction or premium finance transaction, any information that contains a false representation as to any material fact, or that conceals a material fact, concerning any of the following: (1) a solicitation for sale of an insurance policy or purported insurance policy; (2) an application for certificate of authority; (3) the financial condition of an insurer; or (4) the acquisition, formation, merger, affiliation, or dissolution of an insurer; (c) Solicits or accepts new or renewal insurance risks by or for an insolvent insurer; (d) Removes the assets or any record of assets, transactions, and affairs or any material part thereof, from the home office or other place of business of an insurer, or from the place of safekeeping of an insurer, or destroys or sequesters the same from the Department of Commerce. (e) Diverts, misappropriates, converts, or embezzles funds of an insurer, insured, claimant, or applicant for insurance in connection with: (1) an insurance transaction; (2) the conducting of business activities by an insurer or insurance professional; or (3) the acquisition, formation, merger, affiliation, or dissolution of any insurer.
