{"jurisdiction": "us-ny", "code": "penal", "section": "176.55", "citation": "Penal Law § 176.55", "heading": "Life settlement fraud in the third degree", "text": ["§ 176.55 Life settlement fraud in the third degree.", "A person is guilty of life settlement fraud in the third degree when he or she commits a fraudulent life settlement act and thereby wrongfully takes, obtains or withholds, or attempts to wrongfully take, obtain or withhold property with a value in excess of fifty thousand dollars.", "Life settlement fraud in the third degree is a class D felony."], "official_source": "https://www.nysenate.gov/legislation/laws/PEN/176.55", "from_official_api": true, "plain_english": "A person commits third-degree life settlement fraud by **committing a fraudulent life settlement act** and thereby **wrongfully taking, obtaining, or withholding—or attempting to take, obtain, or withhold—property worth more than $50,000**. ★ It is a **class D felony**.", "in_force_on": "2026-05-31", "retrieved": "2026-09-27", "url": "https://elyphived.com/us-ny/penal/176.55", "publisher": "Elyphived LLC"}