Sec. 38a-278. (Formerly Sec. 38-272). Penalties.
Sec. 38a-278. (Formerly Sec. 38-272). Penalties. (a) Any unauthorized insurer
who does any act of an insurance business as set forth in section 38a-271 shall be fined
not more than fifty thousand dollars.
(b) In addition to the penalty provided in subsection (a) of this section or otherwise
provided by law, any person or insurer violating section 38a-27 or 38a-271 to 38a-278,
inclusive, shall be fined two thousand five hundred dollars for the first offense and an
additional two thousand five hundred dollars for each month during which any such
person or insurer continues such violation.
(1969, P.A. 561, S. 10; P.A. 08-178, S. 11.)
History: Sec. 38-272 transferred to Sec. 38a-278 in 1991; P.A. 08-178 amended Subsec. (a) by increasing maximum
fine from $10,000 to $50,000, and amended Subsec. (b) by increasing fines from $500 to $2,500 for a first offense and
from $500 to $2,500 for each month the violation is continued.