Sec. 38a-828. (Formerly Sec. 38-56). False statement of assets prohibited. - Connecticut Statutes

      Sec. 38a-828. (Formerly Sec. 38-56). False statement of assets prohibited. No insurance company or health care center authorized to transact business in this state, nor any agent thereof, shall state or represent, either by advertisement in any newspaper, magazine or periodical or by any sign, circular, card or policy of insurance or contract or certificate of renewal thereof, or otherwise, any funds or assets to be in its possession not actually possessed by it and available for the payment of losses and claims and held for the protection of its policyholders, members or creditors. Any advertisement of or representation as to subscribed capital not actually paid up in cash shall constitute a violation of the provisions of this section.

      (1949 Rev., S. 6080; P.A. 96-227, S. 12.)

      History: Sec. 38-56 transferred to Sec. 38a-828 in 1991; P.A. 96-227 made the section applicable to health care centers.