{"data":{"id":"us-ri/r.i.-gen.-laws-27-72-16","jurisdiction":"us-ri","citation":"R.I. Gen. Laws § 27-72-16","heading":"Penalties.","body":"(a) It is a violation of this chapter for any person, provider, broker, or any other party related to the business of life settlements, to commit a fraudulent life settlement act.\n(b) For criminal liability purposes, a person who commits a fraudulent life settlement act is guilty of committing insurance fraud and shall be subject to additional penalties under § 27-54-1 et seq.\n(c) The commissioner shall be empowered to levy a civil penalty not exceeding one thousand dollars ($1,000) and the amount of the claim for each violation upon any person, including those persons and their employees licensed pursuant to this chapter, who is found to have committed a fraudulent life settlement act or violated any other provision of this chapter.\n(d) The license of a person licensed under this chapter that commits a fraudulent life settlement act shall be revoked.","path":["Title 27 Insurance","Chapter 72 Life Settlements Act"],"source_url":"https://webserver.rilegislature.gov/Statutes/TITLE27/27-72/27-72-16.htm","current_through":"site files published 2025-08-13","vintage":"","retrieved_at":"2026-09-05T19:57:45Z","sha256":"e0702e0a489f801ed5b0292e3a64923b7d35bd70c52be424f05dc9f0f2fb14e1","source_id":"us-ri","stale":true,"prev":"us-ri/r.i.-gen.-laws-27-72-15","next":"us-ri/r.i.-gen.-laws-27-72-17"},"notice":"GroundRules: Original legal text. Not legal advice."}