Penalties and liabilities.

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  • (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.




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