(a)  Any person who violates § 27-47-2 shall, upon conviction, be fined not more than fifty thousand dollars ($50,000) or be imprisoned for not more than one year, or both.

Terms Used In Rhode Island General Laws 27-47-3

  • Conviction: A judgement of guilt against a criminal defendant.
  • person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
  • Trustee: A person or institution holding and administering property in trust.

(b)  Any person who does any of the following:

(1)  Conceals any property belonging to an insurer;

(2)  Transfers or conceals in contemplation of a state insolvency proceeding his own property or property belonging to an insurer;

(3)  Conceals, destroys, mutilates, alters, or makes a false entry in any document which affects or related to the property of an insurer or withholds any document from a receiver, trustee, or other officer of a court entitled to its possession; or

(4)  Gives, obtains, or receives a thing of value for acting or forbearing to act in any court proceedings, and that act or acts results in or contributes to an insurer becoming impaired or insolvent, then that person shall be guilty of a felony and, upon conviction, be punished by imprisonment for not more than five (5) years.

History of Section.
P.L. 1991, ch. 348, § 1.