(a) No person shall establish a commercial self-insurance fund unless such fund is issued a certificate of authority by the Commissioner.
(b)
(1) Any person failing to hold a certificate of authority from the Commissioner while operating or maintaining a commercial self-insurance fund shall be subject to a fine of not less than $5,000.00 or more than $10,000 for each violation.
(2) Any person who operates or maintains a commercial self-insurance fund without a certificate of authority from the Commissioner shall be subject to the cease and desist penalty powers of the Commissioner.
(3) In addition to the penalties and other enforcement provisions of this title, the Commissioner is vested with the power to seek both temporary and permanent injunctive relief when:
(A) A commercial self-insurance fund is being operated by any person or entity without a certificate of authority.
(B) Any person, entity, or commercial self-insurance fund has engaged in any activity prohibited by this title or by any regulation adopted pursuant thereto.
(C) Any commercial self-insurance fund, person or entity is renewing, issuing, or delivering a policy, contract, certificate, summary plan description, or other evidence of the benefits and coverages provided to members without a certificate of authority.