Louisiana § 22:1627 Penalties; suspension, revocation, fines, and liabilities

Louisiana Statutes

§ 22:1627 — Penalties; suspension, revocation, fines, and liabilities

Louisiana·Title 22 Insurance

§1627. Penalties; suspension, revocation, fines, and liabilities A. If the commissioner finds that any person has violated any provision of this Part, the commissioner may order:

(1)For each separate violation, a fine in an amount of five thousand dollars.

(2)Revocation or suspension of the producer license of the MGA.

(3)The MGA to reimburse the insurer or the rehabilitator or liquidator of the insurer for any losses incurred by the insurer caused by a violation of this Part committed by the MGA. B. The decision, determination, or order of the commissioner pursuant to Subsection A of this Section shall be subject to review pursuant to Chapter 12 of this Title, R.S. 22:2191 et seq. C. Nothing contained in this Part is intended to or shall be construed to in any manner limit or restrict

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§1627. Penalties; suspension, revocation, fines, and liabilities
A. If the commissioner finds that any person has violated any provision of this Part,
the commissioner may order:
(1) For each separate violation, a fine in an amount of five thousand dollars.
(2) Revocation or suspension of the producer license of the MGA.
(3) The MGA to reimburse the insurer or the rehabilitator or liquidator of the insurer
for any losses incurred by the insurer caused by a violation of this Part committed by the
MGA.
B. The decision, determination, or order of the commissioner pursuant to Subsection
A of this Section shall be subject to review pursuant to Chapter 12 of this Title, R.S. 22:2191
et seq.
C. Nothing contained in this Part is intended to or shall be construed to in any
manner limit or restrict the rights of policyholders, claimants, and auditors.

Louisiana § 22:1627 (Penalties; suspension, revocation, fines, and liabilities) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Acts 1990, No. 265, §1, eff. midnight Dec. 31, 1991; Acts 1993, No. 189, §1; Redesignated from R.S. 22:1207 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 317, §1; Acts 2011, No. 94, §1, eff. Jan. 1, 2012; Acts 2022, No. 185, §1.