§ 31-2231.03. Misrepresentations and false advertising of insurance policies.

(1) Misrepresents the benefits, advantages, conditions, or terms of a policy;

(2) Misrepresents the dividends or share of the surplus to be received on a policy;

(3) Makes a false or misleading statement as to the dividends or share of surplus previously paid on a policy;

(4) Is misleading or is a misrepresentation as to the financial condition of an insurer or as to the legal reserve system upon which a life insurer operates;

(5) Uses a name or title of a policy or class of policies misrepresenting the true nature thereof;

(6) Is a misrepresentation, including an intentional erroneous quotation of a premium rate for the purpose of inducing, or tending to induce, the purchase, lapse, forfeiture, exchange, conversion, or surrender of a policy;

(7) Is a misrepresentation for the purpose of effecting a pledge or assignment of, or effecting a loan against, a policy;

(8) Misrepresents a policy as being shares of stock; or

(9) Uses a name which deceptively infers or suggests that it is an insurer if it is not an insurer.