(1) The department is authorized to assess civil fines to the credit union for violation of any of the following:
(a) Any material provision of this chapter or related rules;
(b) Any final or temporary order, including a cease and desist, suspension, removal, or prohibition order;
(c) Any supervisory agreement;
(d) Any condition imposed in writing in connection with the grant of any application or other request; or
(e) Any other written agreement entered into with the director.
(2) At the option of the director, a violation of this section subjects the violator to a fine of up to ten thousand dollars per violation. A continuing violation shall be considered a single violation for this purpose. The fine is payable upon issuance of any order or directive of the director, and may be recovered by the attorney general in a civil action in the name of the department.
(3) The department is authorized to adopt rules for the implementation of this section.
[ 2010 c 87 § 16.]