§ 27-29-9 - Penalty.
SECTION 27-29-9
§ 27-29-9 Penalty. – (a) Any person who violates a cease and desist order of the insurancecommissioner under § 27-29-6 after it has become final, and while theorder is in effect, shall, upon proof of the violation to the satisfaction ofthe court, forfeit and pay to the state a sum not to exceed twenty-fivethousand dollars ($25,000), which may be recovered in a civil action, exceptthat, if the violation is found to be willful, the amount of the penalty shallbe a sum not to exceed two hundred fifty thousand dollars ($250,000).
(b) Any person who violates a cease and desist order of theinsurance commissioner under § 27-29-6 after it has become final, andwhile the order is in effect, may after notice and hearing and upon order ofthe commissioner, be subject at the discretion of the commissioner tosuspension or revocation of the insurer's license.