§1497. Penalties and liabilities
1.
Penalties.
If the superintendent finds after a hearing conducted in accordance with section 229 that any person has violated any provision of this subchapter, the superintendent may order:
A.
For each separate violation, any penalty provided for by section 12‑A;
[PL 1997, c. 573, §1 (NEW); PL 1997, c. 573, §2 (AFF).]
B.
Revocation or suspension of the producer's license or the insurer's certificate of authority; and
[PL 1997, c. 573, §1 (NEW); PL 1997, c. 573, §2 (AFF).]
C.
The MGA to reimburse the insurer, the rehabilitator or liquidator of the insurer for any losses incurred by the insurer caused by a violation of this subchapter committed by the MGA.
[PL 1997, c. 573, §1 (NEW); PL 1997, c. 573, §2 (AFF).]
[PL 1997, c. 573, §1 (NEW); PL 1997, c. 573, §2 (AFF).]
2.
Effect of order.
The decision, determination or order of the superintendent pursuant to subsection 1 is subject to judicial review as provided by section 236.
[PL 1997, c. 573, §1 (NEW); PL 1997, c. 573, §2 (AFF).]
3.
Penalties.
Nothing contained in this section affects the right of the superintendent to impose any other penalties provided for in this Title.
[PL 1997, c. 573, §1 (NEW); PL 1997, c. 573, §2 (AFF).]
4.
Rights of others.
Nothing contained in this subchapter limits or restricts the rights of policyholders, claimants and auditors.
[PL 1997, c. 573, §1 (NEW); PL 1997, c. 573, §2 (AFF).]
SECTION HISTORY
PL 1997, c. 573, §1 (NEW). PL 1997, c. 573, §2 (AFF).