7110 - Fees; certification; prohibitions; penalty.

§  7110.  Fees;  certification; prohibitions; penalty. (a) Whenever an  agreement of consolidation or merger or for the acquisition  of  assets,  or  a plan for acquisition of minority interests in a subsidiary insurer  as provided in section seven  thousand  one  hundred  eighteen  of  this  article,  shall  be  filed  with the superintendent, there shall also be  filed with him a certificate executed by the president and  attested  by  the secretary, or by officers corresponding to either of them, under the  corporate  seal  of each of the constituent or contracting companies, or  of the parent corporation and subsidiary insurer, and subscribed by such  officers and affirmed by them as true under the  penalties  of  perjury,  setting  forth  all fees, commissions or other compensations or valuable  considerations paid or to  be  paid,  directly  or  indirectly,  to  any  person,  firm  or  corporation,  for  in  any  manner  securing, aiding,  promoting or assisting in any such consolidation, merger or  acquisition  of assets or minority interests.    (b)  No  director,  officer  or  member  of any such company or of any  parent corporation or subsidiary insurer, except as fully  expressed  in  the  agreement  of  consolidation  or  merger  or for the acquisition of  assets or in the  plan  for  acquisition  of  minority  interests  in  a  subsidiary   insurer,   shall   receive   any   fee,  commission,  other  compensation or valuable consideration, directly or indirectly,  for  in  any manner aiding, promoting or assisting in such consolidation, merger,  or acquisition of assets or minority interests.    (c)  Any  person  violating the provisions of subsection (a) hereof or  knowingly making any false certificate or  statement  pursuant  thereto,  shall be guilty of a felony.