Nevada Revised Statutes 688C.500 – Statement related to false information required on application or contract for viatical settlement; effect
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An application or contract for a viatical settlement, however transmitted, must contain a statement substantially as follows: ‘A person who knowingly presents false information in an application for a viatical settlement is guilty of insurance fraud and subject to fine and imprisonment.’ The lack of such a statement is not a defense in a prosecution for violation of NRS 688C.450.
Terms Used In Nevada Revised Statutes 688C.500
- Contract: A legal written agreement that becomes binding when signed.
- Fraud: Intentional deception resulting in injury to another.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.