§431:9C-106 - Penalties and liabilities.
[§431:9C-106] Penalties and liabilities. (a) If after a hearing conducted in accordance with section 431:2-308 and chapter91, the commissioner finds that any person has violated any provision of thisarticle, the commissioner may order any or all of the following:
(1) For each separate violation, a fine in an amountnot less than $500 and not more than $50,000, pursuant to section 431:3-221;
(2) Revocation or suspension of the managing general agent'slicense; and
(3) The managing general agent to reimburse the insurer or therehabilitator or liquidator of the insurer for any losses incurred by theinsurer caused by a violation of this chapter by the managing general agent.
(b) Nothing contained in this section shallaffect the right of the commissioner to impose any other penalties as providedby law.
(c) Nothing contained in this article isintended to or shall in any manner limit or restrict the rights ofpolicyholders, claimants, and auditors. [L 2002, c 155, pt of §2]