Insurance Law 2127 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 2126 Impersonation at examinations prohibited up ARTICLE 21 Agents, Brokers, Adjusters, Consultants and Intermediaries next SECTION 2128 Commission and fee sharing prohibited Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 2127 Penalties for violations Insurance (ISC) CHAPTER 28, ARTICLE 21 § 2127. Penalties for violations. (a) The superintendent, in lieu of revoking or suspending the license of a licensee in accordance with the provisions of this article, may in any one proceeding by order, require the licensee to pay to the people of this state a penalty in a sum not exceeding five hundred dollars for each offense, and a penalty in a sum not exceeding twenty-five hundred dollars in the aggregate for all offenses. (b) Upon the failure of such a licensee to pay such penalty ordered pursuant to subsection (a) hereof within twenty days after the mailing of such order, postage prepaid, registered, and addressed to the last known place of business of such licensee, unless such order is stayed by an order of a court of competent jurisdiction, the superintendent may revoke the license of such licensee or may suspend the same for such period as he determines.