§431:4-315  Violation of expense limitation. (a)  The officers and directors of an insurer violating section 431:4-314 shallbe jointly and severally liable to the insurer for any excess of expensesincurred.

(b)  For failure or refusal of the insurer toexercise reasonable diligence in enforcing such liability, the commissionermay:

(1)  Prosecute action thereon for the benefit of theinsurer; and

(2)  Revoke the insurer's certificate of authority. [L1987, c 347, pt of §2]