[Until January 30, 2003, this section reads as follows:]

An insurance agent who acts on behalf of another in negotiating a contract of insurance is the insurer's agent for the purpose of receiving the premium. An agent who knowingly procures the payment of a premium of insurance or the obligation for the payment of a premium of insurance by fraudulent representation is guilty of a misdemeanor and, upon conviction, must be fined in the discretion of the court or imprisoned not more than three years, or both.

[From and after January 31, 2003, this section is entitled "Producer receipt of premium; penalty for fraud" and reads as follows:]

An insurance producer who acts on behalf of another in negotiating a contract of insurance is the insurer's producer for the purpose of receiving the premium. A producer who knowingly procures the payment of a premium of insurance or the obligation for the payment of a premium of insurance by fraudulent representation is guilty of a misdemeanor and, upon conviction, must be fined in the discretion of the court or imprisoned not more than three years, or both.