TITLE 42
State Affairs and Government

CHAPTER 42-14
Department of Business Regulation

SECTION 42-14-16


§ 42-14-16 Insurance – Administrative penalties.

(a) Whenever the director shall have cause to believe that a violation of title 27 and/or chapters 14, 14.5, 62 or 128.1 of title 42 or the regulations promulgated thereunder has occurred by a licensee, or any person or entity conducting any activities requiring licensure under title 27, the director may, in accordance with the requirements of the Administrative Procedures Act, chapter 35 of this title:

(1) Revoke or suspend a license;

(2) Levy an administrative penalty in an amount not less than one hundred dollars ($100) nor more than fifty thousand dollars ($50,000);

(3) Order the violator to cease such actions;

(4) Require the licensee or person or entity conducting any activities requiring licensure under title 27 to take such actions as are necessary to comply with title 27 and/or chapters 14, 14.5, 62, or 128.1 of title 42, or the regulations thereunder; or

(5) Any combination of the above penalties.

(b) Any monetary penalties assessed pursuant to this section shall be as general revenues.

History of Section.
(P.L. 1992, ch. 336, § 1; P.L. 1995, ch. 370, art. 40, § 130; P.L. 2006, ch. 85, § 1; P.L. 2006, ch. 98, § 1.)