§ 26-14-116 — Penalties; technical violations; revocation and suspension of license; written orders; contents

Wyoming § 26-14-116

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 14: RATES AND RATING ORGANIZATIONS

Text

(a) The commissioner may impose after notice and hearing a
penalty of not more than one thousand dollars ($1,000.00) for
each violation of this chapter. The penalty may be in addition
to any other penalty provided by law. In no event shall
penalties imposed by this subsection exceed fifty thousand
dollars ($50,000.00) in the aggregate.
(b) Technical violations arising from systems or computer
errors of the same type shall be treated as a single violation.
In the event of an overcharge, if the insurer makes restitution
including payment of interest, no penalty shall be imposed.
(c) The commissioner may suspend or revoke the license of
any insurer or advisory organization which fails to comply with
an order of the commissioner within the time prescribed by the
order, or any extension thereof which the commissioner may
grant.
(d) The commissioner may determine when a suspension of
license shall become effective and the period of the suspension,
which he may modify or rescind in any reasonable manner.
(e) No penalty shall be imposed and no license shall be
suspended or revoked except upon a written order of the
commissioner made after notice and hearing, which shall include
a finding that the party against whom the proceedings were
brought violated this chapter, specify the section or sections
of the statutes violated, and indicate the penalty and taxes, if
any, imposed.