Portable electronics insurance - Violations of act.

  1. Law
  2. Oklahoma Statutes
  3. Insurance
  4. Portable electronics insurance - Violations of act.

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A. If a vendor of portable electronics or its employee or authorized representative violates any provision of Sections 1 through 7 of this act, the Insurance Commissioner may:

1. After notice and hearing, impose fines not to exceed Five Hundred Dollars ($500.00) per violation or Five Thousand Dollars ($5,000.00) in the aggregate for such conduct; or

2. After notice and hearing, impose other penalties that the Commissioner deems necessary and reasonable to carry out the purpose of Sections 1 through 7 of this act, including:

  • a.suspending the privilege of transacting portable electronics insurance pursuant to Sections 1 through 7 of this act at specific business locations where violations have occurred, and
  • b.suspending or revoking the ability of individual employees or authorized representatives to act under the license.

Added by Laws 2011, c. 93, § 5, eff. Nov. 1, 2011.


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