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

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

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