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Mississippi Code Title 83. Insurance § 83-18-111

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) If the commissioner finds after a hearing conducted in accordance with Section 83-6-39, Mississippi Code of 1972, that any person has violated Sections 83-18-101 through 83-18-111, the commissioner may order:

(a) For each separate violation, a penalty in an amount not to exceed Five Hundred Dollars ($500.00);

(b) Revocation or suspension of the producer's license; and

(c) The managing general agent to reimburse the insurer, the rehabilitator or liquidator of the insurer for any losses incurred by the insurer caused by a violation of Sections 83-18-101 to 83-18-111 committed by the managing general agent.

(2) The decision, determination or order of the commissioner pursuant to subsection (1) shall be subject to judicial review pursuant to Section 83-6-41, Mississippi Code of 1972.

(3) Nothing contained in this section shall affect the right of the commissioner to impose any other penalties provided for in the insurance law.

(4) Nothing contained in Sections 83-18-101 to 83-18-111 is intended to or shall in any manner limit or restrict the rights of policyholders, claimants and auditors.

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Cite this article: FindLaw.com - Mississippi Code Title 83. Insurance § 83-18-111 - last updated January 01, 2025 | https://codes.findlaw.com/ms/title-83-insurance/ms-code-sect-83-18-111/

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