1. (a) Viatical settlement contracts and applications for viatical settlement contracts shall contain the following statement or a substantially similar statement:

   “Any person who knowingly presents false information in an application for insurance or an application for a viatical settlement contract has committed a fraudulent viatical settlement act and on conviction is subject to fines, imprisonment, or both, under § 27-408 of the Insurance Article of the Annotated Code of Maryland.”

2. (b) The absence of a statement as required in subsection (a) of this section does not constitute a defense in any prosecution for a fraudulent viatical settlement act.

Added by Acts 2004, c. 275, § 1, eff. Oct. 1, 2004.