If such insurer violates any of the laws of this State relating to insurance companies, the Commissioner may revoke its license and cause notice thereof to be published at least one week in two daily newspapers, one of general circulation in Montpelier and one of general circulation in Burlington. An agent of such insurer shall not, after the first publication of such notice, issue or renew a policy of insurance in its behalf. (Added 1967, No. 344 (Adj. Sess.), § 1 (ch. 1, subch. 2, § 3).)