Title 33, Chapter 47, Section 7
( 33-47-7)
(a) If the Commissioner finds, after a hearing conducted in
accordance with Chapter 2 of this title, that any person has
violated any provision of this chapter, the Commissioner may order: (1) For each separate violation, a penalty in an amount not to
exceed $10,000.00; (2) Revocation or suspension of the producer's license; and (3) The managing general agent to reimburse the insurer or the
rehabilitator or liquidator of the insurer for any losses incurred
by the insurer caused by a violation of this chapter committed by
the managing general agent. (b) The decision, determination, or order of the Commissioner
pursuant to subsection (a) of this Code section shall be subject to
judicial review as provided in Chapter 2 of this title. (c) Nothing contained in this Code section shall affect the right of
the Commissioner to impose any other penalties provided for in this
title. (d) Nothing contained in this chapter is intended to or shall in any
manner limit or restrict the rights of policyholders, claimants, and
auditors. |