2010 Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 3 - Insurance
Chapter 66 - Trade Practices
Subchapter 5 - Frauduluent Insurance Acts Prevention
§ 23-66-512 - Penalties.

23-66-512. Penalties.

A person who violates this subchapter is subject to the following:

(1) (A) Suspension or revocation of license, civil penalties of up to ten thousand dollars ($10,000) per violation, or both.

(B) Suspension or revocation of license and imposition of civil penalties shall be pursuant to an order of the Insurance Commissioner issued under 23-61-301 et seq.

(C) The commissioner's order may require a person found to be in violation of this subchapter to make restitution to persons aggrieved by violations of this subchapter; and

(2) (A) A person convicted of a violation of 23-66-502 by a court of competent jurisdiction shall be guilty of a Class D felony.

(B) A person convicted of a violation of 23-66-502 shall be ordered to pay restitution to persons aggrieved by the violation of this subchapter.

(C) Restitution shall be ordered in addition to a fine or imprisonment; and

(3) A person convicted of a felony violation of this subchapter pursuant to subdivision (2) of this section shall be disqualified from engaging in the business of insurance.