No person shall make, issue, circulate, or cause to be made, issued or circulated, an estimate, illustration, circular or statement, sales presentation, omission, or comparison that: Misrepresents the benefits, advantages, conditions, or terms of a policy; Misrepresents the dividends or share of the surplus to be received on a policy; Makes a false or misleading statement as to the dividends or share of surplus previously paid on a policy; 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; Uses a name or title of a policy or class of policies misrepresenting the true nature thereof; 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; Is a misrepresentation for the purpose of effecting a pledge or assignment of, or effecting a loan against, a policy; Misrepresents a policy as being shares of stock; or Uses a name which deceptively infers or suggests that it is an insurer if it is not an insurer.
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