[§431E-50]  Penalties.  (a)  The
commissioner may levy a civil penalty not exceeding $10,000 and the amount of
the claim for each violation upon any person, including those persons and their
employees licensed pursuant to this chapter, who is found to have committed a
fraudulent life settlement act or violated any other provision of this chapter.



(b)  The license of a person licensed under
this chapter who commits a fraudulent life settlement act shall be revoked for
a period of at least one year.



(c)  The penalties under this chapter are
cumulative and may be imposed in addition to any other penalties authorized by
law. [L 2008, c 177, pt of §1]