(a)(1) Any person injured in the person's business or property by reason of a violation of § 56-53-103 may recover for the injury from the person or persons violating § 56-53-103 , in any appropriate court having jurisdiction, the following:
(A)Return of any profit, benefit, compensation or payment received by the person violating § 56-53-103 directly resulting from the violation; and (B) Reasonable attorneys' fees, related legal expenses, including internal legal expenses and court costs.
(2)An action maintained under subdivision (a)(1) may neither be certified as a class action nor be made part of a class action.
(b)(1) Any person injured in the person's business or property by reason of a violation of § 56-53-102 may recover for the injury from the person or persons violating § 56-5
Free access — add to your briefcase to read the full text and ask questions with AI
(a) (1) Any person injured in the person's business or property by reason of a violation of § 56-53-103 may recover for the injury from the person or persons violating § 56-53-103 , in any appropriate court having jurisdiction, the following: (A) Return of any profit, benefit, compensation or payment received by the person violating § 56-53-103 directly resulting from the violation; and (B) Reasonable attorneys' fees, related legal expenses, including internal legal expenses and court costs. (2) An action maintained under subdivision (a)(1) may neither be certified as a class action nor be made part of a class action. (b) (1) Any person injured in the person's business or property by reason of a violation of § 56-53-102 may recover for the injury from the person or persons violating § 56-53-102 , in any appropriate court having jurisdiction, the following: (A) Return of any profit, benefit, compensation or payment received by the person violating § 56-53-102 directly resulting from the violation; (B) Reasonable attorneys' fees, related legal expenses, including internal legal expenses and court costs; (C) All other economic damages directly resulting from the violation of § 56-53-102 ; (D) Reasonable investigative fees based on a reasonable estimate of the time and expense incurred in the investigation of the violation or violations of § 56-53-102 proved at trial; and (E) A penalty of no less than one hundred dollars ($100) and no greater than ten thousand dollars ($10,000). (2) An action maintained under subdivision (b)(1) may neither be certified as a class action nor be made part of a class action. (c) Any person injured in the person's business or property by a person violating § 56-53-102 , upon a showing of clear and convincing evidence that the violation was part of a pattern or practice of such violations, shall be entitled to recover threefold the injured person's economic damages. An action for treble damages must be brought within three (3) years of the violation. One third (1/3) of the treble damages awarded shall be payable to the state to be used solely for the purpose of investigation and prosecution of violations of this chapter or other fraudulent behavior relating to insurance transactions, or for public education relating to insurance fraud. An action maintained under this subsection (c) may neither be certified as class action nor be made part of a class action, unless the violations of § 56-53-102 giving rise to the action resulted in criminal conviction of the violator or violators under § 56-53-104 . (d) (1) The attorney general and reporter, district attorney general or other prosecutorial agency shall have authority to maintain civil proceedings on behalf of the department of commerce and insurance and any victims of violations of § 56-53-102 . In the action, the court shall proceed as soon as practicable to the hearing and determination of the hearing. Pending final determination, the court may at any time enter restraining orders or prohibitions, or take other actions, including the acceptance of satisfactory performance bonds, as it deems proper. (A) The circuit and chancery courts of the state shall have jurisdiction to prevent and restrain violations of § 56-53-102 by issuing appropriate orders. (B) In any action commenced under this subsection (d), the court, upon finding that any person has violated § 56-53-102 , shall levy a fine of up to five thousand dollars ($5,000) for each violation. (2) Any court in which a prosecution for violation of § 56-53-102 is pending shall have authority to stay or limit proceedings in any civil action regarding the same or related conduct. Any court in which is pending a civil action brought pursuant to this subsection (d) may stay or limit proceedings in actions brought pursuant to subsections (a)-(c) regarding the same or related conduct or may transfer the actions or consolidate them before itself or allow the plaintiffs in the actions to participate in the action brought pursuant to this subsection (d), as it shall prescribe. (e) Any cause of action under this section for violation of § 56-53-102 or § 56-53-103 must be brought within five (5) years of the commission of the acts constituting the violation, or within five (5) years of the time the plaintiff discovered, or with reasonable diligence could have discovered, the acts, whichever is later. (f) An insurer shall not pay damages awarded under this section, or provide a defense or money for a defense, on behalf of an insured under a contract of insurance or indemnification. A third party who has asserted a claim against an insured shall have no cause of action under this section against the insurer of the insured arising out of the insurer's processing or settlement of the third party's claim. An obligee under a surety bond shall not have a cause of action under this section against the surety arising out of the surety's processing or settlement of the obligee's claim against the bond. (g) Any person injured in the person's business or property by reason of a violation of § 56-53-102 or § 56-53-103 may recover under only one (1) of the subsections of this section.