(a) If any insurance corporation, mutual association or company, interinsurance exchange or self-insurer:
(1) Violates this chapter; or
(2) Neglects or refuses to comply with this chapter; or
(3) Wilfully makes any false or fraudulent statement of its business or condition or a false or fraudulent return,
it shall be fined not less than $100 nor more than $1,000 for each such offense. The fine shall be assessed by the Industrial Accident Board after the insurance corporation, mutual association or company, interinsurance exchange or self-insurer is given notice and a hearing on the violation. The fine shall be payable to the State Treasurer.
(b) Whoever in this State:
(1) Acts or assumes to act as an agent in any capacity whatsoever for any insurance corporation, mutual association or company or interinsurance exchange, which is not authorized to do business in this State, or, if such authority to do business in this State has been suspended, so acts or assumes to act while such suspension is in force; or
(2) Neglects or refuses to comply with any obligatory provisions of this section; or
(3) Wilfully makes any false or fraudulent statement of the business or condition of any such insurance carrier or false or fraudulent return,
shall be fined not less than $100 nor more than $1,000 or imprisoned for not more than 90 days, or both.