RSA 402-E:6 · Penalties and Liabilities

402-E:6 Penalties and Liabilities. –

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I.

If the commissioner finds after notice and hearing that any person has violated any provision of this chapter, or rules adopted pursuant to this chapter, the commissioner may order:

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(a)

For each separate violation, a penalty in an amount of $2,500.

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(b)

Revocation or suspension of the producer's license.

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(c)

The MGA to reimburse the insurer, the rehabilitator or liquidator of the insurer for any losses incurred by the insurer caused by a violation of this chapter committed by the MGA.

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(d)

Any other applicable penalty provided for in the insurance law. I-a. Any person who shall practice or attempt to practice as an MGA in this state without a license shall be guilty of a class A misdemeanor if a natural person, or guilty of a felony if any other person.

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II.

Nothing contained in this chapter is intended to or shall in any manner limit or restrict the rights of policyholders, claimants and auditors. Source. 1991, 95:1. 1997, 284:5. 2005, 206:4, eff. Jan. 1, 2006.

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