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The DC Code: § 31-2231.03 Misrepresentations and false advertising of insurance policies.

Index31 Insurance and Securities. (Refs & Annos)

No person shall make, issue, circulate, or cause to be made, issued or circulated, an estimate, illustration, circular or statement, sales presentation, omission, or comparison that:

1
Misrepresents the benefits, advantages, conditions, or terms of a policy;
2
Misrepresents the dividends or share of the surplus to be received on a policy;
3
Makes a false or misleading statement as to the dividends or share of surplus previously paid on a policy;
4
Is misleading or is a misrepresentation as to the financial condition of an insurer or as to the legal reserve system upon which a life insurer operates;
5
Uses a name or title of a policy or class of policies misrepresenting the true nature thereof;
6
Is a misrepresentation, including an intentional erroneous quotation of a premium rate for the purpose of inducing, or tending to induce, the purchase, lapse, forfeiture, exchange, conversion, or surrender of a policy;
7
Is a misrepresentation for the purpose of effecting a pledge or assignment of, or effecting a loan against, a policy;
8
Misrepresents a policy as being shares of stock; or
9
Uses a name which deceptively infers or suggests that it is an insurer if it is not an insurer.

Historical and Statutory

Legislative History of Laws For D.C. Law 13-265, see notes following § 31-2231.01. DC CODE § 31-2231.03 Current through December 11, 2012

Credits

(Apr. 3, 2001, D.C. Law 13-265, § 103, 48 DCR 1225.)