§ 23-79-305 — Violations - Order

Arkansas § 23-79-305

• Jurisdiction: Arkansas
• Title: 23

Text

(a) Whenever the Insurance Commissioner shall have reason to believe that any person has violated any provision of this subchapter, the commissioner shall issue and serve upon the person a statement of the alleged violations and a notice of hearing as provided by § 23-79-309 . (b) If, after a hearing, the commissioner determines that the person has violated a provision of this subchapter, the commissioner shall issue a written order which, in the commissioner's discretion, may do one (1) or more of the following: (1) Revoke the certificate of authority of the insurer or the license of the rate service organization; (2) Suspend the certificate of authority of the insurer or the license of the rate service organization; and (3) Require the payment of a monetary penalty of not more than one thousand dollars ($1,000) for each violation or, if the commissioner has found willful violations, a penalty of not more than ten thousand dollars ($10,000) for each violation.

Legislative History

Acts 1987, No. 204, § 6.