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Louisiana Revised Statutes Tit. 22, § 1627. Penalties; suspension, revocation, fines, and liabilities

Current as of January 01, 2023 | Updated by Findlaw Staff

A. If the commissioner finds that any person has violated any provision of this Part, the commissioner may order:

(1) For each separate violation, a fine in an amount of five thousand dollars.

(2) Revocation or suspension of the producer license of the MGA.

(3) The MGA to reimburse the insurer or the rehabilitator or liquidator of the insurer for any losses incurred by the insurer caused by a violation of this Part committed by the MGA.

B. The decision, determination, or order of the commissioner pursuant to Subsection A of this Section shall be subject to review pursuant to Chapter 12 of this Title, R.S. 22:2191 et seq.

C. Nothing contained in this Part is intended to or shall be construed to in any manner limit or restrict the rights of policyholders, claimants, and auditors.

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Cite this article: FindLaw.com - Louisiana Revised Statutes Tit. 22, § 1627. Penalties; suspension, revocation, fines, and liabilities - last updated January 01, 2023 | https://codes.findlaw.com/la/revised-statutes/la-rev-stat-tit-22-sect-1627/

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