(a) If the Insurance Commissioner, after a hearing conducted according to § 23-61-301 et seq., finds that an insurer or a person has violated this subchapter, the commissioner may order:
(1) For each separate violation, a penalty of one thousand dollars ($1,000) or if the commissioner has found willful misconduct or willful violation, a penalty of five thousand dollars ($5,000); and
(2) Revocation or suspension of the insurer's or person's license.
(b) The decision of the commissioner under subsection (a) of this section is subject to judicial review under § 23-61-307.
(c) This section does not affect the right of the commissioner to impose other penalties provided for in the insurance laws.
Section: Previous 23-63-1302 23-63-1303 23-63-1304 23-63-1305 23-63-1306 23-63-1307 23-63-1308 23-63-1309 23-63-1310 23-63-1311 23-63-1312 23-63-1313 23-63-1314 23-63-1316 NextLast modified: November 15, 2016