District of Columbia § 31-1506 Penalties and liabilities.

District of Columbia Statutes

§ 31-1506 — Penalties and liabilities.

District of Columbia·Title 31 Insurance and Securities.·Ch. 15 Managing General Agents.

(a)If the Mayor determines that the managing general agent or any other person has not materially complied with this chapter, or any regulation or order promulgated thereunder, after notice and opportunity to be heard, the Mayor may order:

(1)For each separate violation, a penalty in an amount not exceeding $10,000, or not more than $25,000 for intentional violations;

(2)Revocation or suspension of the producer’s license; and

(3)If it was found that because of material noncompliance the insurer has suffered any loss or damage, the Commissioner may maintain a civil action brought by or on behalf of the insurer and its policyholders and creditors for recovery of compensatory damages for the benefit of the insurer and its policyholders and creditors, or other appropriate relief.

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(a) If the Mayor determines that the managing general agent or any other person has not materially complied with this chapter, or any regulation or order promulgated thereunder, after notice and opportunity to be heard, the Mayor may order:

(1) For each separate violation, a penalty in an amount not exceeding $10,000, or not more than $25,000 for intentional violations;

(2) Revocation or suspension of the producer’s license; and

(3) If it was found that because of material noncompliance the insurer has suffered any loss or damage, the Commissioner may maintain a civil action brought by or on behalf of the insurer and its policyholders and creditors for recovery of compensatory damages for the benefit of the insurer and its policyholders and creditors, or other appropriate relief.

(b) The decision, determination, or order of the Mayor pursuant to subsection (a) of this section shall be subject to judicial review pursuant to subchapter I of Chapter 5 of Title 2 , §§ 31-2502.43 [repealed] and 31-2502.44 [repealed], and §§ 31-4327 [repealed] and 31-4332 .

(c) Nothing in this section shall affect the right of the Mayor to impose any other penalties provided in the insurance law of the District.

(d) Nothing in this chapter is intended to or shall in any manner limit or restrict the rights of policyholders, claimants, and auditors.

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