Monetary Penalty for Knowing Violations of Chapter; Monetary Penalty for Violation of Cease and Desist Order

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  5. Monetary Penalty for Knowing Violations of Chapter; Monetary Penalty for Violation of Cease and Desist Order

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  1. In any case where a hearing pursuant to Code Section 33-39-16 results in the finding of a knowing violation of this chapter, the Commissioner may, in addition to the issuance of a cease and desist order as prescribed in Code Section 33-39-18, order payment of a monetary penalty of not more than $500.00 for each violation but not to exceed $10,000.00 in the aggregate for multiple violations.
  2. Any person who violates a cease and desist order of the Commissioner under Code Section 33-39-18 may, after notice and hearing and upon order of the Commissioner, be subject to one or more of the following penalties, at the discretion of the Commissioner:
    1. A monetary fine of not more than $10,000.00 for each violation;
    2. A monetary fine of not more than $50,000.00 if the Commissioner finds that violations have occurred with such frequency as to constitute a general business practice; or
    3. Suspension or revocation of an insurance institution's or agent's license.

(Code 1981, §33-39-19, enacted by Ga. L. 1982, p. 615, § 1; Ga. L. 1984, p. 22, § 33.)


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