§ 26.1-57-08 — Enforcement - Penalty

1. The commissioner may take action as necessary or appropriate to enforce this chapter
and to protect guaranteed asset protection waiver holders in this state.
2. After proper notice and opportunity for hearing, the commissioner may:
a. Order the creditor, administrator, or any other person not in compliance with this
chapter to cease and desist from further guaranteed asset protection
waiver-related operations that are in violation of this chapter.
b. Impose a penalty of not more than five hundred dollars per violation and no more
than ten thousand dollars in the aggregate for all violations of a similar nature.
For purposes of this chapter, violations are of a similar nature if the violation
consists of the same or similar course of conduct, action, or practice, regardless
of the number of times the conduct or practice determined to be a violation of the
chapter occurred.
c. Order the creditor, administrator, or any other person not in compliance with this
chapter to pay restitution of the guaranteed asset protection waiver purchase
price.