402:47 Inducing Lapses. –
No insurance company, association or society, officer, director, agent, solicitor or broker, nor any person, firm, association, or corporation, shall make any misrepresentation, oral, written, or otherwise, or any misleading estimate of the dividends or share of surplus to be received thereon or any incomplete comparison of policies, to any person insured in any company for the purpose of inducing or tending to induce such person to take out a policy of insurance, or for the purpose of inducing, or tending to induce, a policyholder in any company to lapse, forfeit, or surrender his insurance therein and to take out a policy of insurance in another like company.