Kansas § 40-2,135 Same; sanctions for violations; rights of policyholders, claimants and auditors not restricted

Kansas Statutes

§ 40-2,135 — Same; sanctions for violations; rights of policyholders, claimants and auditors not restricted

Kansas·Ch. 40 INSURANCE·Art. 2 GENERAL PROVISIONS

(a)If the commissioner finds after a hearing conducted in accordance with the Kansas administrative procedure act that any person has violated any provision of this act, the commissioner may order each of the following, any combination thereof or all of the following:

(1)For each separate violation, a penalty in an amount of $5,000;

(2)revocation or suspension of the agent's or broker's license;

(3)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 act committed by the MGA.

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

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(a) If the commissioner finds after a hearing conducted in accordance with the Kansas administrative procedure act that any person has violated any provision of this act, the commissioner may order each of the following, any combination thereof or all of the following:
(1) For each separate violation, a penalty in an amount of $5,000;
(2) revocation or suspension of the agent's or broker's license;
(3) 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 act committed by the MGA.
(b) Nothing contained in this act is intended to or shall in any manner limit or restrict the rights of policyholders, claimants and auditors.

Kansas § 40-2,135 (Same; sanctions for violations; rights of policyholders, claimants and auditors not restricted) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.