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Froogle 1.1.1.7
Froogled By:
Elias Makere, FSA, MAAA
Last Froogled:

FINE

a sum of money imposed upon a party [as a penalty] for an act of wrongdoing.

The fine is payable to the public treasury – as opposed to restitution (which is payable to the victim of the wrongdoing). Modern statutes favor restitution over fines. Moreover, some of these statutes forbid courts from imposing fines that could interfere restitution.

Legally, the courts have held that a state:
(i) has discretion in setting punishment for state crimes; and

(ii) may impose alternative sanctions (eg, fines).
However, under the Equal Protection Clause, a state may not impose these punishments/sanctions based solely on a party’s indigence. In other words, it is a denial of equal protection to limit punishment to payment of a fine for those who are able to pay it but to convert the fine to imprisonment for those who are unable to pay it.
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Feel free to use it throughout your financial/insurance life.

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www.FroogleMe.com
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