(a) In any case where a hearing pursuant to Code Section 33-39-16 results in the finding of a knowing violation of this chapter, the Commissioner may, in addition to the issuance of a cease and desist order as prescribed in Code Section 33-39-18, order payment of a monetary penalty of not more than $500.00 for each violation but not to exceed $10,000.00 in the aggregate for multiple violations.
(b) Any person who violates a cease and desist order of the Commissioner under Code Section 33-39-18 may, after notice and hearing and upon order of the Commissioner, be subject to one or more of the following penalties, at the discretion of the Commissioner:
(1) A monetary fine of not more than $10,000.00 for each violation;
(2) A monetary fine of not more than $50,000.00 if the Commissioner finds that violations have occurred with such frequency as to constitute a general business practice; or
(3) Suspension or revocation of an insurance institution's or agent's license.
Section: Previous 33-39-10 33-39-11 33-39-12 33-39-13 33-39-14 33-39-15 33-39-16 33-39-17 33-39-18 33-39-19 33-39-20 33-39-21 33-39-22 33-39-23 NextLast modified: October 14, 2016