31A-23a-605. Penalties and liabilities.
(1) If the commissioner finds after a hearing that any person has violated any provision
of this part, the commissioner may order:
(a) for each separate violation, a penalty in an amount of $5,000;
(b) revocation or suspension of the producer's license; and
(c) the managing general agent to reimburse the insurer, the rehabilitator, or liquidator of
the insurer for any losses incurred by the insurer caused by the managing general agent's
violation.
(2) Nothing contained in this section affects the right of the commissioner to impose any
other penalties provided for in this title.
(3) Nothing contained in this part is intended to, or in any manner limits or restricts the
rights of policyholders, claimants, and auditors.
Renumbered and Amended by Chapter 298, 2003 General Session
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Last revised: Thursday, May 28, 2009