SEC. 83-17-11. Appeal from cancellation or nonrenewal.
(1) For violation of Sections 83-17-7 to 83-17-15, the commissioner shall have the authority to revoke the license of the agent or company violating same, for not less than three (3) nor more than six (6) months for the first offense, and for one (1) year for the second offense.
(2) In lieu of, or in addition to, the revocations provided for in subsection (1) of this section, the commissioner may fine the company or the agent, or both, for violations of Sections 83-17-1 through 83-17-15. Any fines levied against the agent or companies, or both, shall be up to Five Hundred Dollars ($500.00) for each agent and Five Thousand Dollars ($5,000.00) for each company per violation of state law or department regulation. The funds from such fines shall be deposited into the special fund in the State Treasury designated as the "Insurance Department Fund."
SOURCES: Codes, 1942, Sec. 5712; Laws, 1938, ch. 194. Amended by Laws 2000, Ch. 417, Sec. 1, HB852, eff. July 1, 2000.
PREVIOUS VERSIONS: Pre-2000