§ 48.94.050. Violations of chapter -- Penalties -- Judicial review
(1) A reinsurance intermediary, insurer, or reinsurer found by the commissioner, after a hearing conducted in accordance with chapters 48.17 and 34.05 RCW, to be in violation of any provision of this chapter, shall:
(a) For each separate violation, pay a penalty in an amount not exceeding five thousand dollars;
(b) Be subject to revocation or suspension of its license; and
(c) If a violation was committed by the reinsurance intermediary, make restitution to the insurer, reinsurer, rehabilitator, or liquidator of the insurer or reinsurer for the net losses incurred by the insurer or reinsurer attributable to the violation.
(2) The decision, determination, or order of the commissioner under subsection (1) of this section is subject to judicial review under this title and chapter 34.05 RCW.
(3) Nothing contained in this section affects the right of the commissioner to impose any other penalties provided in this title.
(4) Nothing contained in this chapter is intended to or in any manner limits or restricts the rights of policyholders, claimants, creditors, or other third parties or confer any rights to those persons.
[1993 c 462 § 32.]
Sections: Previous 48.94.005 48.94.010 48.94.015 48.94.020 48.94.025 48.94.030 48.94.035 48.94.040 48.94.045 48.94.050 48.94.055 48.94.900 48.94.901 NextLast modified: April 7, 2009