§ 20-2117 — Civil penalty

A. In any case in which a hearing results in the finding of a knowing violation of this chapter, the director may, in addition to the issuance of a cease and desist order as prescribed in section 20-2116, order payment of a civil penalty of not more than five hundred dollars for each violation but not to exceed ten thousand dollars in the aggregate for multiple violations.

B. After notice and a hearing, the director may subject any person who violates a cease and desist order of the director under section 20-2116 to one or more of the following penalties:

1. A civil penalty of not more than ten thousand dollars for each violation.

2. A civil penalty of not more than fifty thousand dollars if the director finds that violations have occurred with such frequency as to constitute a general business practice.

3. Suspension or revocation of an insurance institution's or agent's license.

C. The director shall deposit all civil penalties pursuant to this section for deposit in the state general fund.