514G.113 - PENALTIES.
514G.113 PENALTIES. In addition to any other penalties provided by the laws of this state, any insurer or any producer found to have violated a provision of this chapter or any other requirement of this state relating to the regulation of long-term care insurance or the marketing of such insurance shall be subject to a fine of up to three times the amount of any commission paid for each policy involved in the violation, or up to ten thousand dollars, whichever is greater. A fine collected under this section shall be deposited as provided in section 505.7.
Section History: Recent Form 2008 Acts, ch 1175, §14; 2009 Acts, ch 181, §75
Footnotes For future repeal of 2009 amendment to this section, effective July 1, 2011, see 2009 Acts, ch 179, §146