(a) Whenever the Insurance Commissioner shall have reason to believe that any person has violated any provision of this subchapter, the commissioner shall issue and serve upon the person a statement of the alleged violations and a notice of hearing as provided by ยง 23-79-309.
(b) If, after a hearing, the commissioner determines that the person has violated a provision of this subchapter, the commissioner shall issue a written order which, in the commissioner's discretion, may do one (1) or more of the following:
(1) Revoke the certificate of authority of the insurer or the license of the rate service organization;
(2) Suspend the certificate of authority of the insurer or the license of the rate service organization; and
(3) Require the payment of a monetary penalty of not more than one thousand dollars ($1,000) for each violation or, if the commissioner has found willful violations, a penalty of not more than ten thousand dollars ($10,000) for each violation.
Section: Previous 23-79-302 23-79-303 23-79-304 23-79-305 23-79-306 23-79-307 23-79-308 23-79-309 23-79-310 23-79-311 23-79-312 NextLast modified: November 15, 2016