Section 417-B:7 Penalty; Severability; Records.
I. Failure by an insurer to comply with any section of this chapter, or rules, regulations and orders issued pursuant thereto shall subject an insurer to a fine not exceeding $500 in the discretion of the insurance commissioner, or suspension or revocation of such insurer's license, or both.
II. If any provisions or clause of this chapter or application thereof to any person or situation is held invalid, such invalidity shall not affect other provisions or applications of the chapter which can be given effect without the invalid provisions or applications, and to this end the provisions of this chapter are declared to be severable.
III. The insurance commissioner may require that each insurer shall maintain records of the numbers of cancellations and refusals to write or renew policies and the reasons therefor and shall supply to the insurance commissioner such information as he may request.
Source. 1971, 453:1, eff. Aug. 29, 1971.