Any person and any agent or employee of a person, who knowingly files with the corporation any document required under this article, which is false or contains any material misstatement of fact shall be guilty of a misdemeanor and upon conviction therof shall be subject to a fine of not less than five hundred dollars, nor more than twenty-five hundred dollars, or imprisonment for not more than thirty days.

Terms Used In N.Y. Insurance Law 5224

  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.