It is unlawful to make or cause to be made a knowingly false or fraudulent material statement or material representation for the purpose of obtaining or amending an insurance policy under any line of insurance regulated by the department. A violation of this section is a public offense, punishable by a fine not to exceed ten thousand dollars ($10,000), by imprisonment pursuant to subdivision (h) of § 1170 of the Penal Code, or in a county jail not to exceed one year, or by both that fine and imprisonment.

(Added by Stats. 2021, Ch. 627, Sec. 10. (AB 1511) Effective January 1, 2022.)