§ 10-2-1007 — Penalties and liabilities

(1) If the commissioner finds, after a
hearing conducted in accordance with article 4 of title 24, C.R.S., that any person
has violated any provision of this part 10, the commissioner may order:

(a) For each separate violation, a penalty in an amount not to exceed five
thousand dollars;

(b) Revocation or suspension of the producer's license; and

(c) The MGA to reimburse the insurer, the rehabilitator, or liquidator of the
insurer for any losses incurred by the insurer caused by a violation of this part 10
committed by the MGA.

(2) The decision, determination, or order of the commissioner pursuant to
subsection (1) of this section shall be subject to judicial review by the court of
appeals pursuant to section 24-4-106 (11), C.R.S.

(3) Nothing contained in this section shall affect the right of the
commissioner to impose any other penalties provided for in this title.

(4) Nothing contained in this part 10 is intended to or shall in any manner
limit or restrict the rights of policyholders, claimants, and auditors.

Legislative History

Source: L. 93: Entire article R&RE, p. 1388, � 1, effective January 1, 1995.